About half of U.S. energy company executives polled by the Federal Reserve Bank of Dallas expect their firms to increase capital spending in 2021, and another quarter of respondents see those expenditures remaining flat next year, according to a survey released on Wednesday.

© Alexander Borisenko / Adobe Stock

The coronavirus health crisis wiped out as much as a third of global fuel demand and sent U.S. benchmark crude prices crashing in April, even ending one trading session in negative territory. Oil and gas companies slashed budgets and curtailed production.

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