Crude Oil, NGLs

February 05, 2026

 Top Trends for 2026: Energy capital bets on AI-led power demand, positions for cyclical oil surplus

HIGHLIGHTS

AI fuels power demand, drives energy investments

Oil and gas markets face cyclical surplus

Critical minerals scramble amid energy transition

AI will continue to be a dominant driver of energy capital flows in 2026 as growth investment pauses in amply supplied global oil and natural gas markets. These expectations and five more will direct the attention of energy investors over the coming year, according to S&P Global Energy's recently released report, "Top 2026 themes: AI's power crunch, LNG price pressure and the scramble for critical minerals." S&P Global Energy Expert Justin Jacobs joins hosts Hill Vaden and Sam Humphreys to discuss the top trends that will direct energy capital allocation in 2026.

Learn more about S&P Global Energy coverage at: https://www.spglobal.com/energy/en

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