1、 Upstream Oil and Gas Investment Outlook?_ A report by the International Energy Forum and S&P Global Commodity Insights June 2024 _ Written and produced by:Allyson Cutright allyson.cutrightief.org Roger Diwan Karim Fawaz _ About the International Energy Forum The International Energy Forum(IEF)is th

2、e worlds largest international organization of energy ministers from 73 countries and includes both producing and consuming nations.The IEF has a broad mandate to examine all energy issues including oil and gas,clean and renewable energy,sustainability,energy transitions and new technologies,data tr

3、ansparency,and energy access.Through the Forum and its associated events,officials,industry executives,and other experts engage in a dialogue of increasing importance to global energy security and sustainability._ About S&P Global Commodity Insights For more than 100 years,S&P Global has been a trus

4、ted connector that brings together thought leaders,market participants,governments,and regulators to co-create solutions that lead to progress.Vital to navigating Energy Transition,S&P Global Commodity Insights coverage includes oil and gas,power,chemicals,metals,agriculture,and shipping.S&P Global

5、Commodity Insights is a division of S&P Global,the worlds foremost provider of credit ratings,benchmarks,analytics,and workflow solutions in the global capital,commodity,and automotive markets.With every one of our offerings,we help many of the worlds leading organizations navigate the economic land

6、scape so they can plan for tomorrow,today._ 3 Table of Contents Executive Summary.4 Introduction:An Era of(Relative)Stability or Calm Between Storms?.5 Oil and Gas Upstream Capex Rises to Decade High in 2024.5 Upstream investment expanded by 12%in 2023 and is expected to grow by 5%in 2024.5 North an