In this interview given to Asharq Business Bloomberg, Dr Carole Nakhle, CEO of Crystol Energy, comments on the EU’s joint gas purchasing platform and other developments in energy markets.
Key takeaways:
- Since its establishment, the European Union (EU) has thrived to adopt a unified energy policy. The establishment of the joint gas purchasing platform emerged amid the high gas prices seen in Europe in 2022 following the war in Ukraine.
- The establishment of such a platform reduces competition within individual EU members for gas supplies while strengthens the EU’s competitive stance with other markets – primarily Asia.
- It is simplistic to say that OPEC+’s cuts have failed in their mission; nobody knows where prices would had been if the group did not cut.
- The economic outlook is one of the biggest factors shaping the trajectory of the oil prices.
Watch the discussion (in Arabic)
