The pandemic brought strong headwinds for the oil and gas industry, and oil majors felt the blow. Global primary energy consumption fell by 4.5% relative to 2019 and oil demand declined by 9%. For a brief period in April 2020, the price of West Texas Intermediate (WTI) crude futures went subzero, marking the largest one-day price plunge since 1983.
Some expected the demand crash to have a lasting impact on the industry, but it’s safe to say that 2021 has proved otherwise.
Using data from CompaniesMarketCap.com, this infographic ranks the top 20 oil and gas companies by market cap as of October 7, 2021.