Rising energy demand is creating new investment opportunities, supported by artificial intelligence, population growth and the development of emerging economies, according to Baker Hughes CEO Lorenzo Simonelli. He expects industry activity to rise by a low-single-digit percentage in 2027, while conflicts in the Middle East are increasing the need for resilient infrastructure, storage and pipelines. BP CEO Meg O’Neill nevertheless points out that oil and gas projects require several years to develop and remain in production for decades amid uncertainty over oil prices. Energy Aspects forecasts an oil oversupply in 2027 and 2028 if Middle Eastern flows return to normal.
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