The global oil and gas industry is entering a critical transition period. In this episode, we break down the most important upstream industry highlights and explore what lies ahead for oil and gas markets in 2026, from oversupply risks to shifting demand and tightening margins.

We start with Norway’s long-term oil and gas policy outlook, as the government announces plans for a 2027 white paper that will shape offshore exploration, production priorities, and regulatory direction for one of the world’s most reliable energy suppliers. With Norway accounting for roughly 2% of global oil supply and playing a key role in Europe’s natural gas security, these decisions carry major implications for global investment strategies.

Next, we examine the global LNG market, where the International Energy Agency projects the largest supply expansion since 2019. New LNG export capacity from the United States, Canada, and Qatar is expected to drive demand growth in 2026, particularly across Asia, reinforcing natural gas’s role as a bridge fuel and accelerating investment in midstream and export infrastructure.

The episode also explores how digital transformation in oil and gas is reshaping competitiveness. As capital discipline tightens, operators are leaning into automation, advanced analytics, and drilling technology to reduce costs, improve efficiency, and protect margins in a softer price environment.

Finally, we dive into the 2026 oil market outlook, covering:

Oversupply risks and record-level production growth
Moderating oil prices and Brent crude forecasts in the mid-$50s
Slower demand growth amid economic headwinds and efficiency gains
Strategic responses focused on capital discipline, portfolio optimization, and risk management

Packed with insights from the IEA, EIA, Reuters, and leading industry analysts, this episode provides essential context for energy executives, investors, and professionals navigating a rapidly evolving oil and gas landscape.