Wood Mackenzie analysts offer ten predictions for key developments expected in the energy and natural resources industries in 2022

For 2021, the WoodMac predictions stood the test of time pretty well. Crude prices rose, more oil and gas companies set objectives for cutting emissions, the pace of consolidation in the US upstream industry picked up, and China’s restrictions on imports of Australian coal remained in place; all as Wood Mackenzie analysts predicted.

For 2022, WoodMac have another ten predictions, covering the range of Wood Mackenzie’s expertise in sectors including carbon markets, power, oil and gas, and metals and mining. Some relate to short-term cyclical factors; others reflect long-term trends that are going to play out over decades.

The rapid rise of the Omicron variant of the Covid-19 virus has cast a shadow over the outlook, dashing hopes that we could be confident of steady progress out of the pandemic. But as this year has shown, many of the fundamental trends driving the energy and natural resources industries remain highly resilient, even in the face of a global health crisis.