World oil supply and demand in 2012 showed its first easing in this century. The global oil demand growth rate hit a new low since the financial crisis. Though the production decline in sanctioned Iran, disasters-attacked Nigeria and other countries was offset by increases from other OPEC members, international oil prices still remained on a high level for economic fluctuations, geopolitical and speculative factors. World natural gas consumption has continued its steady growth that the overall production increased a percent exceeding its demand, which ensured a basic balance between supply and demand of the market, and the price obviously showed its regional characteristics. North American natural gas prices of 2012 fell due to a substantial increasing impact from the shale gas. However, in other areas of the world, upward prices were always pressures. In anticipation of high oil prices, by 2012, the worldwide oil and gas exploration, development and investments were driven to grow rapidly, and the most significant result is the new discovery of oil and gas in East Africa. Being attracted to oil prices rising, the latest results of the assessment of resources has greatly increased by 20 percent compared with the figure 10 years ago. The U.S. shale gas development breakthroughs were restructuring the world oil and gas, and even the global energy map. It also accelerated the eastward shift of oil and gas consumption and westward relocation of production. At the same time, the global oil trade continued to expand. The Asia-Pacific region is the major engine of trade, but imports of OECD countries declined continually. As to natural gas, LNG trade has become increasingly active since it is growing faster than pipeline gas trade and having its rising status. Global oil and gas M & A market in 2012 showed a particular phenomenon that the number of mergers and acquisition and transaction amount are in negative correlation. A new record of mergers and acquisitions did not increase the number of transactions which indicated that the market was not active. <<