Dr Carole Nakhle, CEO of Crystol Energy, spoke on market developments and geopolitics at the “How Energy Markets and Geopolitics Are Impacting the Middle East” conference organized by the Lebanese Center for Policy Studies and Natural Resource Governance Institute.
As oil and gas prices have decreased in recent years, the Middle East has also been mired with conflict and poor economic performance. The conference aimed to reflect on these recent developments in order to examine policy options. To this end, the meeting addressed the following sets of questions:
- What are the implications of OPEC’s meeting which will be held on 30 November? Is OPEC’s strategy currently being driven by market realities or political rivalries? How are oil companies coping with these developments?
- How have the changes in the oil market impacted the fiscal resources of the oil producing countries? What are the political implications given that many of the countries are built on patronage system?
- What are the prospects for economic reforms? Do lower oil and gas prices provide incentives for economic diversification?
In light of these questions, the conference also highlighted the current energy situations in Iran, Iraq, Lebanon, Libya, and Saudi Arabia.
The event took place on December 2, 2016 at Mövenpick Hotel, Beirut.