11-06-03 Although commodity prices have been higher than expected this year, oil companies have not increased their worldwide upstream investments significantly.
Some 330 oil and gas companies are planning a small 5.4 % increase in their worldwide exploration and production expenditures in 2003 to $ 138.8 bn.

Very surprising is the US gas markets, where prices have average $ 5.9 per thousand cf but upstream investments have only been raised by 2 % this year.