- Billions of barrels of future production have been cancelled
- Key input shortages could slow green energy transition
- Opec+ spat adds to industry uncertainty
Most investors have been exposed, either directly or indirectly, to the vagaries of global oil markets at some point. But as major economies commit to replacing fossil fuels and fund managers increasingly tailor their portfolios to comply with environmental mandates, the question of ‘Big Oil’ has become much more binary. Put simply, is it a safe space for your capital any more? Or will the prospect of a disorderly realignment in oil markets – and consequent volatility – eventually favour the supermajors?