Meeting the oil and gas supply gap
The world has no lack of recoverable oil and gas resources. But where they will come from in the future will change
One of the major drivers of current short-term strength in the oil market is a lack of investment in new production to offset natural decline from existing fields. There are many valid reasons for this lack of capital, including price collapses over the past decade, continuing uncertainty over future demand and a constraint on investment dollars, either due to ESG concerns or disappointing past financial performance from oil producers. But, while the world is moving to a low-carbon future, it is still almost certain—barring a dramatic pivot towards accelerated progress to net zero that is nowhere being seriously politically contemplated—to need more new oil production. Even falling demand wi
Also in this section
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
