In this report, GlobalData identifies the top 20 themes that will impact the oil and gas industry in 2026. For each theme, we offer a series of predictions, identify winners, and point you to further reading.
Our research shows that companies who invest in the right themes become success stories; those who miss the big themes ultimately fail. Given that so many themes are disruptive, it is very easy to be blindsided by industry outsiders invading your sector.
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So, to help our clients gain a competitive advantage, GlobalData has developed its Strategic Intelligence Solution, a single, integrated global research platform that provides an easy-to-use framework for tracking all strategic issues—or themes—impacting all companies across all industries.
The biggest themes influencing the oil and gas industry in 2026
The Iran conflict and the resultant supply chain disruptions arising from the Strait of Hormuz blockade are expected to be the key themes impacting the oil and gas industry in 2026. The renewed conflict in the Middle East has led to a spike in oil and gas prices, as well as throttling maritime traffic through the Strait of Hormuz. It vastly disrupted energy supplies through the Persian Gulf, with oil prices spiking around 44% above their pre-war levels in March 2026. Various countries have reacted with a mix of emergency fiscal measures, supply rationing, and a pivot to alternative fuels. However, it is unclear if these efforts will be enough to meet their energy needs, as it could take months to re-establish steady export volumes through this choke point.
Lately, while the US and Iran have reached a ceasefire, failure to achieve a permanent end to this conflict will keep the region on edge. The severity of the impact will depend on the full extent of damage sustained to oil and gas facilities across the Middle East. It will likely prove an inflection point for key countries, starting with the Middle East itself, which has seen its energy exports drop and expat workers flee. Although the global economy is now relatively less dependent on Middle Eastern energy than before, it still contributes considerable volumes of crude oil, natural gas, and petroleum fuels to global markets.
Moreover, the US tariffs might continue to have a bearing on the global economy despite a slight easing of these worries in the recent past. It is therefore important for the industry to assess the impact of these macroeconomic themes of geopolitics, supply chain, and tariffs while charting out their growth plans.
Newer industry themes that support the energy transition towards zero emission technologies, such as renewable energy, hydrogen, carbon capture and storage (CCS), and electric vehicles (EVs) are also highlighted in this report. These are evaluated for their potential impact on oil and gas operations in 2026 and beyond. Besides, the report also evaluates the core oil and gas themes, namely liquefied natural gas (LNG) and shale, which continue to feature prominently in the capital plans of top oil and gas companies.
The report also features disruptive tech themes, such as artificial intelligence (AI), blockchain, cybersecurity, the Internet of Things (IoT), and robotics.
Further assessment of our top 20 themes in the oil and gas industry can be found in GlobalData’s new report, ‘Top 20 Oil & Gas Themes – 2025’.
