Dr Carole Nakhle, CEO of Crystol Energy, spoke on contemporary political and market challenges of attempts to control supply and manage global oil prices at the Middle East and North Africa Energy Conference, taking place at Chatham House on 29-30 January 2018.
The session addressed the following questions:
- To what extent have recent oil price rises been driven by political uncertainties rather than changes to oil supply?
- Will the extension of OPEC led supply cuts through to the end of 2018 have its intended effect? How will the agreement be unwound? Could it be extended?
- At what cost to their global competitiveness and economic diversification strategies can OPEC producers keep oil prices at a desired level?
- How are the dynamics of the prospective Aramco listing influencing Saudi Arabia’s strategy towards managing supply and prices?
- What levels of capex can be expected by international oil companies (IOCs) and national oil companies (NOCs) at current prices?
Other speakers included:
- Abdulla Al Qadi, Exploration & Production Executive Director, Crescent Petroleum
- Kamel Ben Naceur, Chief Economist, ADNOC Group
- Ed Rawle, Chief Economist, Wood Mackenzie
Chair: Professor Paul Stevens, Distinguished Fellow, Energy, Environment and Resources, Chatham House
Ministerial address: HE Jabar Ali al-Luaibi, Minister of Oil, Iraq
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