Geopolitics, Supply Chain Top 2026 Oil & Gas Themes, GlobalData Reports

Geopolitics and supply chain disruptions are the top themes impacting the global oil and gas industry in 2026, according to a new strategic intelligence report from GlobalData highlighted by Rigzone. For Bakken operators, these macro themes directly influence the price environment and operational planning for the year.

In a statement, GlobalData identified geopolitics as the "biggest disruptive theme" for the year, specifically citing the Iran conflict and the resultant supply chain disruptions from a Strait of Hormuz blockade. "The renewed conflict in the Middle East has led to a spike in oil and gas prices and has throttled maritime traffic through the Strait of Hormuz," said GlobalData Oil and Gas Analyst Ravindra Puranik. He noted this has severely disrupted energy supplies, with oil prices spiking to around 44 percent above their pre-war levels in March 2026.

The report states that despite a recent ceasefire between the U.S. and Iran, the failure to achieve a permanent peace keeps the region on edge. The severity of the impact depends on damage to Middle East oil and gas facilities, and it could take months to re-establish steady export volumes through the key chokepoint. "It will likely prove an inflection point for key countries, starting with the Middle East itself, which has seen its energy exports drop and expat workers flee," the GlobalData statement said.

Other macro themes flagged as transformative for the industry include 'tariffs', 'inflation', 'regulation', 'pandemics', and 'deal making'. GlobalData noted that "U.S. tariffs might continue to weigh on the global economy, despite a slight easing of these worries in the recent past." For North Dakota producers, these factors contribute to the broader economic uncertainty surrounding commodity prices and operating costs.

The strategic themes report also categorized key technology and industry themes. Technology themes include ‘artificial intelligence’, ‘data analytics’, and ‘cybersecurity’, while relevant industry themes include ‘shale’, the ‘energy transition’, ‘LNG’, and ‘carbon capture and storage’. The inclusion of 'shale' underscores the ongoing global significance of tight oil plays like the Bakken.

GlobalData emphasized that navigating these themes is critical for corporate strategy. "It is therefore important for the industry to assess the impact of these macroeconomic themes while charting out their growth plans," the statement concluded. For Bakken operators, the sustained higher price environment driven by geopolitical risk may support drilling budgets, but it is tempered by ongoing supply chain concerns and the broader slate of disruptive themes identified for the year.