The oil and gas business are one of the most strictly regulated sectors, yet it remains amongst the most profitable and risky. This is due to the fact that Crude oil/Petroleum and its derivatives are essential commodities that are consumed on daily basis.
This industry has brought in over a trillion U.S. dollars in annual profits for much of the past decade. Despite a decrease in 2020 when the coronavirus pandemic reduced fuel demand, oil & gas profits have remained high. A peak of over 2.5 trillion U.S. dollars was reported in 2008, 2011 and 2012.
Most investors believe that oil prices will remain about $60 per barrel through 2024. There are long-term concerns, however, about the energy transition away from fossil fuels. Nearly two-thirds of investors say that peak oil will occur by 2030.
