Baker Hughes Co. is projecting global demand growth for oil and natural gas into the second half of the year, aligned with rising demand for carbon-neutral products.

baker hughes logo

“As we look ahead to the rest of 2021, we remain cautiously optimistic that the global economy and oil demand will recover from the impact of the global pandemic,” said CEO Lorenzo Simonelli during a first quarter conference call. 

“As the vaccine rollout ramps up around the world, we expect rising oil and gas demand combined with continued discipline” from exploration and production (E&P) companies “to rebalance inventories. This should be supportive of higher oil prices and solid free cash flow across the industry.”

Last year was in fact “resilient” for liquefied natural gas (LNG) exports, which...