US still driving oil investment recovery
Executives see plenty of enticing opportunities, but spending will be heavily weighted to the US and they can't commit without signs of a sustained path toward higher-priced oil
Total global energy industry spending will rise by 7% this year, to $580bn, according to a report released this week from Bernstein Research—an investment bank. But that growth is heavily weighted to the US, and will be driven by tight oil development in particular. Spending on new production outside the US is expected to rise by just 4% this year—around $15bn—to $380bn, noted the bank, and remains far below the peak in 2014. US drillers plan to lift investment by around $25bn this year, from $175bn to $200bn, more than the rest of the world combined, according to Bernstein's figures. There are a number of reasons why capex outside of the US has been so sluggish since the downturn. For one,
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
