Markets

Equinor ASA and its partners are accelerating brownfield asset maturation across the Norwegian Continental Shelf (NCS) to fulfill prolonged global fossil fuel demand and solidify Norway’s position as Europe's primary energy guarantor.

The ongoing war involving the US, Israel, and Iran has caused a massive structural collapse in Middle Eastern oil infrastructure.

Between Jun. 1 and Jun. 5, US crude markets tightened dramatically as modest gains from domestic production climbing toward historic milestones were completely overwhelmed.

The escalating war in Iran and the near-total closure of the Strait of Hormuz since Mar. 2026 have removed over 1B bbl. of oil supply from the Middle East, leaving a 675 MM bbl. shortfall from Jan. to May 2026 compared to 2025.

In June 2026, the Middle East energy landscape began charting a complex path toward recovery following devastating supply disruptions from the war with Iran and the de facto closure of the Strait of Hormuz.

While the European Union (EU) has significantly increased its imports of US crude to replace these lost volumes, industry experts warn that these US barrels—drawn heavily from finite inventories—will run out sooner rather than later.

Following decades of steady decline from its 1988 peak of over 2.0 MM b/d, crude production on the Alaska North Slope (ANS) is undergoing a major structural turnaround.

Following the Jan. 03, 2026 seizure of former President Nicolás Maduro, acting President Delcy Rodriguez’s interim government is courting international energy majors back to its oil and gas sectors.

The prolonged closure of the Strait of Hormuz following the outbreak of the Iran war on Feb. 28, has pushed the global oil market into a critical supply deficit.

As global capital becomes increasingly selective, the Latin American upstream sector is witnessing a sharp divergence between Brazil’s proactive expansion and Mexico’s contracting operational base.