Blog

Authored by Rystad Energy via OilPrice.com,

• Political changes in over 70 countries will impact oil markets and renewable energy policies.

• Natural gas and hydrogen will play key roles in the ongoing energy transition and meeting global energy needs.

• Renewable energy growth will continue with solar and wind power leading the charge, despite challenges in offshore wind and coal power sectors.

Hot off the heels of another tumultuous and eventful year for the global energy landscape, 2024 is already continuing the trend of disruptions, headwinds and opportunities. Last year ended with a momentous agreement at COP28 to cut global methane emissions, a significant contributor to emissions worldwide.

The coming year will be another rollercoaster ride for the industry, posing important questions about whether the net-zero targets outlined in the Paris Agreement can be achieved. Elections, supply chain issues and the maturation of nascent industries are all on the cards.

Rystad Energy advises governments, organizations and companies in every corner of the energy landscape, so we are well placed to illuminate the trends that will shape the industry in 2024.

1.  Geopolitics to shape the oil market more than ever

2.  Natural Gas to help secure energy needs and support the energy transition

3.  M&A trend moves into the supply chain 

4.  Hydrogen projects take off in 2024

5.  Muted US shale growth helps OPEC

6.  Renewable growth doubling down  

7.  Potential for an OPEC+ type group in refined products markets, notably in China

8.  Offshore wind not out of the woods yet, but long-term outlook is robust

9.  Coal generation to start decline in 2024 as Asian growth slows

To dive deeper into our research and analysis on the energy transition, register now for our upcoming webinar "Rystad Talks Energy".