The IEA warned that the oil industry was not investing enough in new supply, a problem that could become clear in the 2020s. – Spending on conventional oil fields jumped by 57 percent in 2017 to $112 billion, targeting 11 billion barrels of oil. – But the figures are a small fraction of the pre-2014 investment levels, and could create problems beginning in the early 2020s. Market Movers • Chevron (NYSE: CVX) is looking to sell its stake in a Canadian LNG project. Petronas, which scrapped its own $36 billion LNG project on Canada’s Pacific Coast last year, could purchase Chevron’s stake. • Ecopetrol (NYSE: EC) said it would look for assets to buy this year after bouncing back from deep budget cuts. The Colombian oil company said it plans on bidding on auctions in the […]