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Global

Negative impact

11 May 2026

Volatility, not high prices, will define Big Oil's next chapter | Reuters

Article Summary

Key point: Oil majors anticipate prolonged turbulence in energy markets, rather than sustained high prices. This volatility is expected to curb their spending on new projects after the Iran war.
Why it matters: May add upward pressure to household energy bills.
Expected impact: Likely negative impact — Signals tightening or strain in the UK energy market.

Oil majors anticipate prolonged turbulence in energy markets, rather than sustained high prices. This volatility is expected to curb their spending on new projects after the Iran war.

What This Means

The expectation of continued volatility in global oil markets, rather than just high prices, is a worrying sign for UK consumers. This instability can lead to unpredictable fuel and energy costs, making budgeting extremely difficult. We've seen how geopolitical events can rapidly impact our bills, and this forecast suggests that uncertainty will be the new normal, urging us to consider long-term energy efficiency measures.

Consumers: May add upward pressure to household energy bills.
Businesses: Could raise energy costs or operational risk for businesses.
Energy market: Signals tightening or strain in the UK energy market.