Upstream Oil Investment Needs 30% Boost to Meet Demand

The investment gap in green energy and weakened policy and corporate commitment to clean energy solutions could lead to global oil and gas demand remaining stronger for longer. In such a scenario, the world’s upstream investment would need to increase to deliver the additional volumes of oil and gas, according to an analysis by Wood Mackenzie. While the International Energy Agency (IEA) still very optimistically expects global oil demand to have peaked by the end of the decade, the players directly involved in supply, including oil producers…