Oil, Gas Companies Set To Spend More in 2025

Producers of crude oil and natural gas will invest more in their business next year amid a stumbling transition away from hydrocarbons. The development may come as a surprise in the context of ever more transition commitments on the part of governments, but it simply proves one thing: while there is demand, there will be supply. Investments in oil and gas among the 23 biggest producers in the world are set to climb by over 60% by next year, compared to the trough of 2020 and the pandemic lockdowns. The forecast comes from Wood Mackenzie, which…