Dr Nakhle talks about the net effect of the global economy that has been positive, supporting the whole direction of the global oil markets. That has largely been driven by the US and China which both account for about 40% of global economy. Europe has also been faring better, but the region is still in the risky area.
She further discusses the possibility of oil prices breaking the $70/bl ceiling, and whether the disruptiveness of opening will ultimately curtail the oil demand recovery expected in the third quarter. According to Dr Nakhle, international travel is unlikely to meet expectations over summer months due to the uneven distribution of the vaccination programme across the world.
Dr Nakhle is joined by Dr Aldo Flores-Quiroga, Former Deputy Secretary of Energy for Hydrocarbons, Mexico’s Ministry of Energy, and Chris Wood, CEO of Savanara DMCC. Sean Evers, Managing Partner, Gulf Intelligence, moderates the discussion.
Watch the full discussion:
“New Opportunities 2021: Some optimism for oil markets“, Dr Carole Nakhle, Feb 2021
“Global Economy and Energy Markets Weekly Commentary – 2nd May ‘21“, Christof Rühl, May 2021
“OPEC+’s JMMC cancellation and Saudi Arabia’s talks to sell 1% of Aramco“, Dr Carole Nakhle, Apr 2021
“Financing the pandemic response and the EU bond issuance“, Christof Rühl, Apr 2021