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Global Economy and Energy Markets Weekly Commentary – 6th May ‘21

In this commentary to the Gulf IntelligenceDr Carole Nakhle, CEO of Crystol Energy, discusses the latest developments in global oil industry.

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:
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