Gas demand has been affected across Europe
Europe’s gas supply woes to persist
Next year may prove even tougher than 2022
Europe's gas supply crisis will linger into next year and may even worsen, delegates warned at the Energy Intelligence Forum in London. There is “unprecedented uncertainty” and the energy markets have been “coping with all kinds of shocks”, says Russell Hardy, CEO at trading firm Vitol. On the oil side, the “supply side is adequate” after Opec gradually raised crude production to around its maximum output this year, he continues, albeit speaking before the cartel’s shock 2mn bl/d supply cut announced on Wednesday. But the potential impact of sanctions on Russian oil over the winter is “still unknown” and a “risk”, he adds. No oil supply has really been lost yet, but the market is tight, says
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
