Global upstream | 5 themes to watch in 2020

Foresight 2020

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2020 predictions

The level of uncertainty and anxiety among upstream producers and supply chain has rarely been higher. Decision-making will be more heavily influenced by sentiment surrounding the energy transition, political upheaval and trade disputes in 2020 than in previous years. This adds to the ever-present risks of unexpected supply-demand imbalance, niche cost inflation or a global economic downturn.

  1. Upstream capex will remain flat
  2. Sanctioned volumes will be huge, and gas weighted
  3. Excess supply chain capacity keeps costs lower for longer
  4. Tight oil will slow down, but once again be resilient
  5. Exploration will be under real pressure but will create value.

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