Where The Middle East’s Next 20 Billion Barrels Are Coming From ...Middle East

Previously, we reported that global upstream operators will cut investment for a second consecutive year in 2026, with capital expenditure expected to fall by at least 2-3% year-on-year, and more than 5% compared to 2024 levels, as the industry navigates sub-$60/bbl oil prices while maintaining focus on long-term resilience. Still, Wood Mackenzie has predicted that operators will continue to add strategic, new growth opportunities in several regions across the globe. To wit, the Middle East and North Africa are slated to add at least 20 billion…

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