White Paper

Global Oil & Gas Production Market Outlook 2026/2027

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Executive Summary

The global oil and gas industry enters the second half of 2026 navigating one of its most volatile stretches in decades. Onshore resilience, particularly in the United States and Canada, is offsetting some of the disruption to offshore Middle East supply, even as the historical relationship between high prices and rising capital spending has decoupled amid capital discipline from the major producers.

Global Oil & Gas Production Market Outlook 2026/2027

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Industrial oil refinery and chemical plant illuminated at dusk with a field in the foreground