India, Sept. 18 -- In the backdrop of rising output from unconventional fields, the share of total oil output globally had fallen 77 per cent in 2024 while in 2000, conventional oil fields contributed 97 per cent of total oil output globally.

According to IEA, nearly 90 per cent of annual upstream oil and gas investment since 2019 has been dedicated to offsetting production declines rather than to meet demand growth.

"Investment in 2025 is set to be around USD 570 billion, and if this persists, modest production growth could continue in the future. But a relatively small drop in upstream investment can mean the difference between oil and gas supply growth and static production. At the same time, less investment is required in a scenario...