The majority of senior energy industry executives expect to maintain or increase spending this year to meet demand for oil and gas after years of austerity, a survey by DNV GL shows. DNV, a technical adviser to the energy industry, surveyed 791 senior professionals from firms with annual revenue ranging from $500 million or less to those earning $5 billion and more. BP, Shell and many other companies cut capital spending and costs in 2016 after the price of benchmark Brent crude fell to a 12-year low of below $30 a barrel. Helped by output cuts by Organization of the Petroleum Exporting Countries and its allies, ... (full story)