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Asian LNG demand is accelerating while longer-term growth expectations in several markets have increased.   Key highlights: Continued deepening of clean air policies across Asia Change in Asian contracting trends as oil indexation levels start to trend upwards, Henry Hub comes back into favour, and contract duration and volume increases  Emerging market LNG demand accelerates Accelerating renewables growth expected to reduce longer-term gas to power expectations in several key markets Key content: In-depth analysis of the gas market Gas and LNG supply, demand, infrastructure and trade Asian LNG contracting and gas pricing trends Policy and regulations

The new Macro Oils Long-term Outlook includes our forecast of price, supply, and demand as well as a series of themes that address the complexity of the oil market to 2040. We summarise the key takeaways from each theme and interpret what it means for oil price. In broad terms, we address the following supply themes: OPEC and geopolitics  The growth in US tight oil  Non-OPEC supply    On demand, tectonic shifts in the transport sector lead to a peak in oil demand in 2036. Robust growth in petrochemical demand is insufficient to counter the decline in gasoline. We asses  the following themes: Mandated fuel efficiency improvements   The rise of the electric vehicle  The road to an autonomous future   The resilience in petrochemical demand 

Chevron's portfolio mix is undergoing a dramatic transformation as the company moves into a much more aggressive phase of exploiting its superior position in the Permian tight oil play. Its conventional exploration performance remains highly dependent on two world-class, legacy deepwater regions: Australia and the US Gulf of Mexico. Both face challenges in commercialising the large volumes discovered. However, infrastructure-led exploration has been fruitful. Chevron made three significant discoveries in deepwater GoM in 2017. These discoveries could allow the company to take advantage of existing GoM infrastructure, reducing commercialisation lead times and breakevens.