US upstream companies feel the strain
Economic uncertainty forces E&Ps to significantly revise down their capital budgets
The Covid-19 outbreak seemed little more than another temporary shock to long-term rangebound energy markets barely a month ago. China appeared to have contained a largely localised phenomenon, and observers were estimating how long it would take Asian demand to recover. Oil producers stuck firmly to their 2020 production guidance. But events have changed radically. Europe is now the epicentre of a global emergency that could last months and test the healthcare capabilities of governments throughout the world. The associated collapse in global energy demand—and uncertainty how and when supply will respond in the wake of Opec+ disarray—have shocked commodity markets. “The weak global economy
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Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
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Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
