Where The Middle East’s Next 20 Billion Barrels Are Coming From
Affected assets and topics
Why it matters
Wood Mackenzie predicts that the Middle East and North Africa will add at least 20 billion barrels of new oil reserves, despite global upstream operators cutting investment in 2026 due to low oil prices.
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Expected market reaction
Market impact analysis based on bullish sentiment with 80% confidence.
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Evidence
AI provenance
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- Provider tag
- groq-llama-3.1-8b-instant
- Analysis version
- groq-llama-3.1-8b-instant
- Article id
- 31748
Original source
Previously, we reported that global upstream operators will cut investment for a second consecutive year in 2026, with capital expenditure expected to fall by at least 2-3% year-on-year, and more than 5% compared to 2024 levels, as the industry navigates sub-$60/bbl oil prices while maintaining focus on long-term resilience. Still, Wood Mackenzie has predicted that operators will continue to add strategic, new growth opportunities in several regions across the globe. To wit, the Middle East and North Africa are slated to add at least 20 billion…
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Original article published by OilPrice.com on January 13, 2026. Analysis and insights provided by AnalystMarkets AI.