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Key things to watch in upstream in 2024

11 January 2024

Geopolitical tensions, a record year for elections and economic uncertainty will define the backdrop to the upstream industry in 2024. Wood Mackenzie recently released its What to Look for in 2024 upstream series. Key themes to watch in global and corporate upstream include continued consolidation, increased activity from NOCs, reversing decarbonisation gains, shifts in strategic playbooks and an upstream investment plateau.

Opinion

US tight oil piles pressure on refiners

01 October 2018

Alan Gelder looks at the ways in which US tight oil has revolutionised the global oil market. This article first appeared on Forbes.com on September 27, 2018.

Comment

What next for the oil market as the US reimposes sanctions on Iran?

06 November 2018

What next for the oil market as the US reimposes sanctions on Iran?

Opinion

Tariffs begin to redirect global energy trade flows

06 May 2025

The full impact of the new tariffs has not yet worked through world markets, but US energy exports to China have been falling

The Edge

Oil closes in on peak oversupply

28 April 2020

The steep decline in oil demand is putting the entire system under pressure. Will there be sufficient storage globally to cope? Will we see more production shut-in? What are the prospects for demand recovery? Find out more in this week's Edge.

The Edge

Oil’s resilience in the energy system

03 December 2025

Oil demand is proving more resilient than expected

Opinion

Learning the right lessons from the Texas crisis

03 December 2021

The blackouts raise important questions about investment, innovation and electricity market design, as the share of variable renewable generation on the grid increases.

Editorial

Oil price crash: 3 things you need to know today

10 March 2020

On Monday 9th March 2020, the oil price saw its biggest fall in 30 years. Here’s our analysts’ rapid response to the oil price crash. Look out for more detailed analysis in the days and weeks to come.

The Edge

Big themes in 2022 for energy and natural resources

14 December 2021

What will shape the world of energy and natural resources in 2022? Simon Flowers picks five key themes, from the energy crisis to the metals supercycle, transition cost challenges, higher investment and the chances of US$100/bbl oil.

Opinion

Oil price crash - where does Asia go from here?

17 March 2020

Oil demand has gone into a tailspin. We now expect Q1 global oil consumption to be 2.7 million b/d lower than the same period a year ago.

Featured

How 2020 dealt tight oil another blow

17 September 2020

In this special report about tight oil, Linda Htien, Senior Research Manager, US Lower 48 Upstream Research, and Ann-Louise Hittle, Vice President, Oils Research examine the forces slowing the growth of tight oil

The Edge

What different scenarios tell us about the future of oil and gas

21 May 2021

What does a net-zero pathway mean for the oil and gas industry? As capital markets and an ever-widening stakeholder community demand clarity and action on decarbonisation, more of our customers are talking to us about how they should incorporate such scenarios into their planning.

News Release

Action to achieve Paris climate goals will upend oil and gas prices

15 April 2021

If the world acts decisively to limit global warming to 2°C by 2050, the scale of change will revolutionise the energy industry. Progressive electrification will squeeze the most polluting hydrocarbons out of the energy mix, nearly eliminating their markets. Oil demand will shrink, and with it, so will the power of major oil producers. Gas demand will remain resilient, but business models will need to evolve.

Featured

How will the oil price crash hit the upstream sector?

20 March 2020

How will the oil price crash hit upstream spending? What supply might be shut in? Where does this leave the upstream service sector? Our experts share their analysis.

The Edge

Big themes and risks for energy in 2021

11 December 2020

After a tumultuous 2020, what will shape the energy world in 2021? We look at five themes to watch – economic boom, action on climate change, oil demand, industry finances and upstream investment.

Opinion

Global upstream: four big themes to watch

28 March 2023

From energy security to Upstream 2.0, our Global Upstream Update explores some of the biggest issues facing the industry.

Opinion

COP26 oil demand: in the cross hairs of emissions reduction

18 August 2021

Our COP26 briefing considers the implications for the oil market and refining industry of a global concerted effort to reduce emissions and limit a temperature rise by 2050 to 2 °C.

Editorial

Crisis in Ukraine: the global risks to commodities

25 February 2022

The invasion of Ukraine has had an immediate effect on the global economy and markets. What are the lasting implications for commodities?

Opinion

Predictions for energy and natural resources in 2025

13 December 2024

The impact of Chinese EVs, ambitious NOCs, the Saudi storage boom and more, as Wood Mackenzie analysts look ahead to next year

Opinion

The Texas energy crisis: its causes and consequences

19 February 2021

Freezing conditions in the southern US led to blackouts and a slump in gas production. What can we learn from the crisis?

Opinion

The coronavirus crisis: assessing the impact on energy

27 March 2020

Demand for oil, gas and power is recovering in China, but falling sharply in the rest of the world. The coronavirus pandemic has already had a profound impact on energy, with oil prices plunging and companies taking an axe to their capital spending plans. But the implications of the crisis are only just starting to emerge.

Opinion

The US tight oil industry grows up

23 June 2023

As the E&P sector embraces capital discipline and stability through the cycle, the US may be losing its role as a swing producer

Opinion

An ADNOC trilogy (part 3): big gas ambitions

15 September 2023

ADNOC’s gas self-sufficiency strategy relies on the development of ultra sour, unconventional, and gas cap resources – but the cost and complexity are impeding progress

Opinion

Middle East conflict set to drive oil and LNG prices significantly higher

02 March 2026

The US/Israeli strike on Iran's leadership raises geopolitical tension to heights reminiscent of Russia's invasion of Ukraine four years ago.

The Edge

How the price war is hurting US tight oil

26 May 2020

Arresting the explosive growth of US tight oil was a clear target of the price war after the OPEC+ meeting collapsed in March. What's been the effect on drilling and investment? How much will production fall and how quickly? Will tight oil recover and get back on a growth path? Find out more in this week's Edge.

The Edge

What’s holding back a new investment cycle?

02 October 2018

Despite strong financial performance for the 48 IOCs and NOCs covered in our Corporate Service this year, investment activity is weak. Simon Flowers and Norman Valentine discuss.

The Edge

Guyana - a new planet in oil’s solar system

18 September 2018

The discovery of a major new oil play like Guyana instils a sense of wonder in we oil industry devotees. What’s the story? How big could it be? Will it change the oil market? Simon takes on these questions and more.

The Edge

Risk appetite returns as global upstream investment picks up

27 March 2018

Investment is making a comeback. Much of the action, as ever, is in the US Lower 48, with operators responding to higher prices by upping 2018 budgets by 15-20%. But there’s stuff happening, too, in the big wide world beyond onshore USA.

The Edge

The shrinking scale of greenfield oil and gas projects: slowing growth prospects outside the L48 bubble

26 January 2017

Despite the uptick in numbers, investment in greenfield conventional projects is stuck at a low ebb.

The Edge

UAE’s oil potential boosted by promising shale discovery

10 September 2026

Which players are active in UAE shale? How big is the resource?

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Your search for opec has returned 173 results

Key things to watch in upstream in 2024

US tight oil piles pressure on refiners

What next for the oil market as the US reimposes sanctions on Iran?

Tariffs begin to redirect global energy trade flows

Oil closes in on peak oversupply

Oil’s resilience in the energy system

Learning the right lessons from the Texas crisis

Oil price crash: 3 things you need to know today

Big themes in 2022 for energy and natural resources

Oil price crash - where does Asia go from here?

How 2020 dealt tight oil another blow

What different scenarios tell us about the future of oil and gas

Action to achieve Paris climate goals will upend oil and gas prices

How will the oil price crash hit the upstream sector?

Big themes and risks for energy in 2021

Global upstream: four big themes to watch

COP26 oil demand: in the cross hairs of emissions reduction

Crisis in Ukraine: the global risks to commodities

Predictions for energy and natural resources in 2025

The Texas energy crisis: its causes and consequences

The coronavirus crisis: assessing the impact on energy

The US tight oil industry grows up

An ADNOC trilogy (part 3): big gas ambitions

Middle East conflict set to drive oil and LNG prices significantly higher

How the price war is hurting US tight oil

What’s holding back a new investment cycle?

Guyana - a new planet in oil’s solar system

Risk appetite returns as global upstream investment picks up

The shrinking scale of greenfield oil and gas projects: slowing growth prospects outside the L48 bubble

UAE’s oil potential boosted by promising shale discovery

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