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INSIGHT REPORT
Energy Council 2026 Global Industry Survey Report
Published 29 April 2026
The Energy Council’s annual Global Industry Survey Report 2026 is now available to download.
Over 200 people from across our network took part in this year’s survey, and we have put together the report to uncover the macro picture of the industry today including oil price predictions, the energy trilemma, finance and investment plans and exploration updates.
In a season of extraordinary disruptions to global oil and gas markets arising from the conflict in the Persian Gulf, nearly 200 senior managers from all sectors of the energy industry shared their perspectives and insights with the Energy Council as part of our annual survey. Timing is everything in energy markets, and the Energy Council’s 2026 survey engaged senior managers just when the war in the Middlstye East was in its first days. So, this meant many respondents had not fully digested the implications of the conflict on energy markets. Furthermore, the scale and severity of the disruption could not be foreseen by anyone in those early days. Had the survey been conducted a mere two weeks later, year-end oil price forecasts would certainly have trended significantly higher than the sub-$75 forecast estimated by 84% of respondents.
As this survey report was finalized, the prospect of a long-term supply crisis was growing with damage to oil and gas infrastructure that could take months to repair. While the duration and eventual outcomes of the war were still unknown at the time of this report’s publication, the 2026 survey nonetheless reveals some important long-term trends and strategic considerations in the energy industry.
Nearly 70% of companies stated that exploration will play a key role in their 2026 business
After nearly a decade of under‑investment
in exploration talent and capability, the
industry now faces a renewed need to rebuild
exploration functions, train geoscientists and
re‑examine basins previously set aside as too
complex or too risky
Where do the next E&P opportunites lie?
Interest is rising in a remarkably diverse set of locations. Somalia, Namibia, São Tomé and Príncipe, Equatorial Guinea and Guinea‑Bissau
were cited as high‑potential frontier markets.
Energy security again topped the ranking of challenges to the industry
with 63% naming it as their top concern followed by energy affordability, which 27% found to be the utmost challenge. Energy transition ranked at just 10%.
If you have downloaded this report and you believe your company, service or product could help our senior upstream energy executives with some of the challenges they face in today’s environment, we would love to hear from you and see how you could be involved in our network.
The Energy Council is a global platform that facilitates connections between senior upstream energy executives and the finance, investment and technology community, in order to accelerate deals, mobilise capital, drive growth and innovation.
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