According to S&P Global Market Intelligence data, oil and gas deals topped $271 billion in value in 2023, more than doubling the value of deals made in 2022.

Bruce On, EY’s US West region energy strategy and transactions leader, joined the podcast to discuss this wave of consolidation, whether it will continue and just how the oil sector is managing to pull off these deals in uncertain economic times. He also gave his take on how the surge in dealmaking will play out and the role politics could play as the US gears up for a major election.

Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.