Upstream Operators Adjust Strategies as Oil Moderates, Gas Supports

The U.S. upstream oil and gas sector continues to operate in a complex macro environment, marked by easing crude prices, resilient natural gas demand and heightened capital discipline. While global oil inventories are forecast to rise into 2026, creating downward pressure on crude prices, natural gas fundamentals are comparatively constructive, supported by winter demand and structural growth from LNG exports and power generation. Against this backdrop, operators with low breakeven assets, strong balance sh ...