The Investment Perspective, with Ninety One

Tariffs, OPEC and shale: Where oil and gas markets are headed in 2025

Paul Gooden breaks down the complex forces moving oil and gas prices in 2025 — from OPEC’s fragile balancing act to the fading punch of US shale. But the real story might be in natural gas, where AI demand, electrification, and LNG exports are shaping a compelling new growth curve. This is energy investing beyond the headlines — analytical, forward-looking, and grounded in a global perspective.

02 May 2025

15 minutes

Paul Gooden
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Authored by

Paul Gooden
Portfolio Manager

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