Market Trends

Oil and gas

The energy markets are going through profound changes. The share of oil and coal in the world energy mix is slowly being replaced by gas and renewable energy resources. Within oil and gas, North American shale is playing an increasingly significant role.

On a global scale, growing population, urbanisation, industrialisation and economic growth will continue to drive energy demand, in particular in areas with growing economies. While the share of renewable resources in the energy mix is rapidly growing, in absolute terms oil and gas will remain a key and growing energy resource for years to come. The oil and gas industry, in addition to having to meet demand growth, must also contend with increasing rates of depletion of producing reservoirs.