Oil & Gas Industry Insights

Global oil inventories are projected to build by 720 kb/d in 2025, creating oversupply conditions as world oil supply is expected to rise by 1.8 mb/d while demand growth slows to just 700 kb/d.

The oil & gas industry distributed nearly $213 billion in dividends and $136 billion in buybacks between January-November 2024, marking record shareholder returns amid strong financial performance.

The mega-merger adds 2 billion barrels of resources to ConocoPhillips' portfolio and enables over $20 billion in additional share buybacks, marking 2024's second-largest oil & gas deal.

Brent crude exhibited remarkable stability with minimal monthly changes, trading between $74-$90 per barrel throughout 2024, making it one of the most stable years in the past 25 years.

The largest oil & gas deal of 2024 creates a major Permian Basin producer, highlighting continued consolidation in America's premier shale play as companies seek operational efficiency and scale.

Intensified US sanctions on Iranian oil producers and tanker fleet create new geopolitical risk factors affecting global petroleum supply chains and trading routes in the Strait of Hormuz.

Federal offshore production forecast at 1.80 million b/d in 2025 and 1.81 million b/d in 2026, with major new projects like Whale Field, Ballymore, Dover, and Shenandoah coming online.

Natural Gas Liquids (NGLs) emerge as major growth driver with output forecast to rise by 2 mb/d to 15.5 mb/d by 2030, driven by increased shale gas production and petrochemical demand.

The oilfield services sector reported its strongest performance in over three decades for the 2023-2024 period, driven by increased drilling activity and enhanced operational efficiency across major basins.

The United Kingdom implements a 2% sustainable aviation fuel mandate beginning 2025, signaling the growing regulatory push toward renewable fuels in the aviation sector across global markets.