Abstract: In 2021, the new crown pneumonia epidemic is still spreading around the world.With the continuous increase in vaccination rate, the world economy continues to recover under the impact of the epidemic.Countries and regions represented by China and the United States have experienced rapid economic growth and strong growth in energy demand such as oil and gas.International oil and gas prices rose sharply.The average spot price of Brent crude oil continued to rise from US MYM50/barrel at the beginning of the year, and exceeded US MYM85/barrel in October.The supply and demand of energy such as oil and gas are partially unbalanced, the energy crisis in Europe is becoming more and more severe, and there is a short-term “power blackout” phenomenon in China.China’s economic development and epidemic prevention and control have maintained a leading position in the world.Domestic oil companies have continued to increase their efforts in exploration and development, and oil production has continued to grow steadily for three consecutive years, reaching nearly 200 million tons.Natural gas production has grown rapidly, exceeding 200 billion cubic meters.A number of important breakthroughs have been made in the mine.It is expected that in 2022, the epidemic will still bring uncertainty to the recovery of the world economy, international oil prices will run at a mid-to-high level, and the average spot price of Brent crude oil will fluctuate around MYM70 per barrel.China’s oil production will exceed 200 million tons, and natural gas production will continue to maintain a rapid growth momentum, which will reach more than 220 billion m³.