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COVID has been referred to as an 'accelerator', immediately
putting people and entire industries face-to-face with trends that
otherwise would have taken 5 to 10 years to emerge fully.
The upstream industry is a prime example. It was already pivoting
into the Energy Transition well before the pandemic, but the
historic demand destruction operators experienced in early 2020
gave new urgency to strategy execution.
Combined with growing concern over climate change, it would be easy
to assume that oil is in its twilight phase, yet in reality this
commodity has a substantial role to play in the coming decades.
Jim Burkhard
Vice President & Head of research for oil markets, energy &
mobility, IHS Markit
Catherine Robinson
Executive Director, Gas, Power, and Energy Futures, IHS Markit
Bob Fryklund
Vice President - Upstream Energy, IHS Markit
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