The mental map of the world oil industry is being reshaped by the growth of US shale oil—now making the United States the number one producer rather than the world’s largest importer. As China’s demand has grown, it has become the world’s largest importer. One response to the changing structure of the global market is a change in relations among the traditional exporters, with the emergence of OPEC-plus. How does the reconfiguration of supply change the perspectives of producers and consumers and their relations and affect thinking about energy security?
Shifts in personal car ownership are at the forefront of the energy transition and electrification of the passenger car fleet is one of the main decarbonization pathways in many markets. As battery technology improves and EVs become more cost-competitive, EVs are gaining traction in many markets and with that comes concern about the future of oil demand in the passenger car segment. In which markets will EVs gain share fastest? Is EV adoption scalable? Will EVs bring forward peak demand?