ENERGY markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices.
The past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, US President Donald Trump’s trade wars, the intensified targeting of energy infrastructure in Russia in its war against Ukraine, the Organisation of Petroleum Exporting Countries’ (Opec) often perplexing production decisions and the recently threatened US blockade of Venezuela.
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