---
title: "US upstream M&A surges to $38B despite market volatility"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286764351.md"
description: "US upstream M&A reached $38 billion in Q1 2026, driven by major deals like Devon-Coterra and Mitsubishi-Aethon. Factors such as high oil prices, LNG export growth, and limited shale output are fueling consolidation. Analysts predict Brent crude will average $95 in 2026, with possible spikes due to Middle East tensions."
datetime: "2026-05-18T11:41:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286764351.md)
  - [en](https://longbridge.com/en/news/286764351.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286764351.md)
---

# US upstream M&A surges to $38B despite market volatility

Record shale deals: US upstream M&A hit $38 billion in Q1 2026, led by Devon-Coterra and Mitsubishi-Aethon transactions. Consolidation drivers: High oil prices, LNG export growth, and limited shale output are pushing buyers and sellers toward major deals. Future price outlook: Analysts see Brent averaging $95 in 2026, with potential spikes if Middle East tensions persist.

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