In this episode of our Long-term podcast series Energy Aspects’ Chris Rivinus is joined by Head of Upstream, Virendra Chauhan, and Head of Geopolitics, Richard Bronze, to discuss the outlook for oil and gas supplies over the next two decades.

International oil companies are pursuing strategies to diversify away from oil and gas production, driven by investor pressure and the rise of the ESG agenda, leading them to scale back their upstream Capex and appetite for new projects, even in geologically promising territories. Even publicly-listed US shale producers are entering a new era defined by prudence and restraint rather than the headlong pursuit of higher volumes.

Where will the market find the supply needed to meet the post-pandemic demand recovery? We expect OPEC producers to increase their market share, but this is subject to political risks and depends on the capabilities of national oil companies. Even if these supplies do materialise, we see a supply crunch looming that will push oil prices higher.