Politics/Markets

DNV experts will be present at the 25th WPC Energy Congress, taking place in Riyadh from 11–15 October 2026, at booth #5450 B in Hall 5, engaging with industry leaders and sharing insights on the region’s energy transition. Ahead of the conference, DNV’s Jan Zschommler, market area manager Middle East & Africa, energy systems, shares some insights on the current energy landscape with Petroleum Economist

The case for the group’s long-term oil demand growth and investment in hydrocarbons remains strong, but the Middle East conflict has created new forms of doubt

Asian refiners have reduced their dependence on Middle Eastern crude, with African and Atlantic Basin barrels emerging with renewed gusto

Hydrocarbons, economic influence and strategic geography increasingly define Iraqi-Iranian relations, with implications for regional stability and global energy security

The crude importer’s strategic diversification, its eye for a cheaper barrel and its strength in flexibility has seen Venezuela emerge as a major supplier as it looks beyond the Middle East

The alliance has the battle scars from a decade of oil shocks, a pandemic, a war in Ukraine and now conflict between the US-Israel and Iran as another blow, but a flurry of deals at SPIEF underscore the enduring power of the relationship

Overall production drops further in May amid inconsistent compliance and a fragile supply outlook

Baku Energy Week saw Azerbaijan seek to broaden its role in a fractured global energy market, a US push for closer ties with the Caspian country and discussions on crisis responses

The bigger the supply disruption, the bigger the move away from oil and gas use, helping keep energy prices in stasis

Demand destruction could turn into something much worse the longer the Strait of Hormuz remains closed

More than two decades after 2003, Iraq continues to struggle with the consequences of foreign influence, political fragmentation, corruption, and weakened state institutions

As energy markets tighten and prices climb, Europe is being forced to reassess the balance between decarbonisation, energy security and economic growth

The UK plans to permanently ban new oil and gas licences in the name of energy independence, although such restrictive policies risk making the country even more energy dependent

Surging oil prices are once again prompting governments around the world to look at ways to extract more money out of energy companies

The swing consumer is turning a fractured market into a strategic opportunity as a hefty stash of crude gives refiners power in a crisis