State of the Oil & Gas Industry

Updated on May 6, 2026

This State of the National Oil & Gas Industry report aims to provide a comprehensive analysis of transportation and logistics for the oil & gas industry, shedding light on its key drivers, trends, and emerging technologies. By examining the current landscape and forecasting future developments, we seek to equip executives, industry managers, and stakeholders with valuable insights to navigate the ever-evolving logistics landscape.

Highlights for the oil & gas report include:

• Long-term disruption risk is rising: Even if the Strait of Hormuz reopens soon, clearing shipping backlogs and restoring normal flows could take many months, with infrastructure repairs potentially stretching into years.
• Market sentiment is shifting: We no longer expect a quick resolution, and this change is starting to materialize in actions.
• Price scenarios skew higher: Estimates suggest oil could average around $90 in a relatively quick normalization case, but a “fragile ceasefire” scenario could push prices closer to $120 per barrel.
• Extreme volatility persists: Oil prices are reacting sharply to incremental news, making future prices extremely uncertain and volatile.
• Diesel dynamics offer temporary relief—but not for long: Improved inventories have kept diesel from rising as fast as crude, and retail prices fell through much of April, but late-month futures strength signals likely increases at the pump in the near term.

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