More global oil and gas firms expect to increase capital spending this year as confidence picks up after crude prices climbed above $70 a barrel in January for the first time in the three years, according to a survey by DNV. DNV, a technical adviser to energy industry sector, reported that 66 percent of the 813 senior oil and gas professionals surveyed said their company would maintain or increase capital spending this year, compared to 39 percent last year. Confidence that the industry would grow rose to 63 percent this year from 32 percent last year, the survey found. Many companies, including oil majors BP and Shell, cut capital expenditure and costs in 2016 after the price of Brent oil fell to a 12-year low of under $30 a tonne. Capital expenditure in global oil production fell to $200 billion in 2016 from an all-time high […]