Enverus has released its 2026 Global Energy Outlook, shedding light on key trends affecting the energy sector. The report emphasizes significant pressures on commodity prices, increasing strains on power systems, and notable geopolitical shifts, particularly in oil markets. This comprehensive analysis is particularly relevant for stakeholders navigating a complex energy landscape.
The report indicates that Brent crude oil is expected to average approximately $55 per barrel in 2026, while Henry Hub natural gas is projected to average around $3.80 per MMBtu this winter and $3.60 next summer. Additionally, the Permian Basin is poised for growth, with gas supply anticipated to rise by roughly 1.1 billion cubic feet per day by the end of the year. European TTF natural gas prices are expected to stabilize between $10 and $12 per MMBtu, driven by demands for firm capacity and grid reliability.
Key Insights on Market Dynamics
Dane Gregoris, managing director of Enverus Intelligence® Research, noted, “Our work shows oil prices will reset lower in 2026 without signaling long-term scarcity.” The outlook suggests a recalibration period, as capital flows favor certain energy sectors, including gas-fired generation and renewable natural gas (RNG) from landfills. This shift is expected as grid operators tighten their AI-driven load forecasts and data centers increasingly seek behind-the-meter generation options.
The report highlights several critical takeaways:
– Oil prices are projected to reset before recovering, with early 2026 anticipated to witness weakness in Brent crude before a second-half rebound influenced by geopolitical developments in regions like Venezuela, Iran, and Russia.
– Natural gas benchmarks maintain a constructive outlook, with Henry Hub and TTF prices reflecting steady global demand for liquefied natural gas (LNG) alongside the balancing needs of renewable energy sources.
– The Permian Basin will benefit from new pipeline expansions to Gulf Coast markets, which will facilitate an increase in gas supply.
Future Trends and Investment Focus
Furthermore, the report discusses how power markets are adapting to last year’s policy changes, forecasting increased distress in renewable portfolios and active mergers and acquisitions (M&A) in gas-fired generation. The independent system operators (ISOs) are tightening their load assumptions based on AI models, leading to adjusted forecasts across the board.
Enverus emphasizes the need for selective investment in transition technologies. Landfill RNG and carbon capture and storage (CCS) stand out as promising opportunities, while hydrogen and manure-based RNG may face challenges due to weaker market signals and incentives.
The findings of the 2026 Global Energy Outlook are derived from an extensive range of Enverus products, including Enverus PRISM®, FOUNDATIONS® – Carbon Innovation, and various forecasting solutions. Authored by a team of over 120 experts, the report is designed to provide actionable insights across the natural gas, power, upstream, and M&A sectors for professionals in finance, operations, renewables, and oilfield services.
For further information, interested parties can access the publicly available e-book of the 2026 Global Energy Outlook through Enverus’ website.
