The global energy market may face renewed pressure in the coming months, according to Eni Chief Executive Claudio Descalzi, who warned that the ongoing energy crisis could worsen in the short term due to rising geopolitical tensions, supply uncertainties, and growing global demand.
Speaking in an interview with Italian newspaper Il Sole 24 Ore, Descalzi said the world remains vulnerable to disruptions in oil and natural gas supplies despite improvements since the energy shock triggered by recent geopolitical conflicts.
He noted that volatility in energy prices could continue if supply chains are interrupted or new conflicts affect major producing regions.The Eni CEO highlighted that Europe has made significant progress in diversifying its energy sources after reducing dependence on Russian gas. However, he cautioned that the transition is still incomplete, leaving many countries exposed to sudden market fluctuations.Descalzi also emphasized that global investment in energy infrastructure has not kept pace with rising demand.
As economies recover and electricity consumption increases—driven by artificial intelligence, electric vehicles, and expanding industries—the pressure on energy systems is expected to grow.He called for a balanced approach to the energy transition, arguing that renewable energy, natural gas, and conventional fuels will all play important roles in ensuring energy security over the coming years.
According to Descalzi, governments should continue investing in cleaner technologies while maintaining reliable supplies of traditional energy sources during the transition.Analysts say uncertainty in the Middle East, shipping disruptions, and weather-related events remain key risks for global energy markets.
Any major interruption could quickly push oil and gas prices higher, affecting households, businesses, and industrial production worldwide.Despite the near-term challenges, Descalzi expressed confidence that long-term investments in renewable energy, carbon capture technologies, and diversified fuel supplies will strengthen global energy resilience.
He stressed that cooperation between governments, energy companies, and international organizations will be essential to maintaining stable markets and supporting economic growth.Investors are expected to closely monitor geopolitical developments, supply trends, and central bank policies, as energy prices remain one of the most important factors influencing inflation and the global economic outlook in 2026.