Big Oil Needs to Pivot Portfolio to Survive, KPMG's Mayor Says

The video discusses the decline in market capitalization of oil companies and the shift in investor sentiment towards tech stocks and energy transition. It highlights the challenges in industry consolidation due to capital constraints and the role of private equity in asset restructuring. The discussion also covers future oil demand projections, indicating that hydrocarbons will remain essential in the foreseeable future.

What restructuring is anticipated in the energy sector as per the discussion?

What is indicated about the demand for oil in the future according to the text?