Oil, Gas and Metals in 2026: What to Watch This Year

Commodity markets in 2026 face a series of pressure points, including a potential LNG glut, slowing US oil growth, and China's expansion in renewable fuels and petrochemicals. David Doherty and Enrique Gonzalez from Bloomberg NEF review findings from the "Commodities in 2026" report, highlighting key numbers to watch in power and oil. The oil market anticipates a large surplus due to unwinding from OPEC and increased production from countries like Guyana and Brazil. U.S. crude production is expected to see slower incremental growth, but efficiencies gained by shale producers will prevent decline. China's drive for self-sufficiency in petrochemicals leads to overcapacity, impacting global markets, while its potential mandate for sustainable aviation fuel could reshape that industry.