US Energy Executives’ Outlook Sours For First Time Since 2016

U.S. oil and gas executives’ outlook turned negative for the first time since the low point of the last oil bust, according to results of a survey released on Jan. 3 by the Federal Reserve Bank of Dallas.

A survey of executive sentiment fell to -10 from 47 in the prior quarter, the first negative reading since early 2016, when U.S. crude prices plummeted to $26 per barrel.

More than half of executives said they expect lower capital spending in 2019.