Oil and gas markets outlook

In this interview with Rasha Imad from ABC TV, Dr Carole Nakhle, CEO of Crystol Energy, discusses the latest developments in the oil and gas markets.

Key messages of this discussion:

  1. The war in Ukraine made a bad energy situation worse. As Covid-19 surged around the world, oil prices dropped and investments in the sector were slashed contributing to the dire situation we are currently in as post-pandemic demand recovery outpaced the growth in supply. Today, the biggest risk to oil markets is the economic recession. 
  2. The rise in energy prices has fuelled inflation but on their own, they did not cause it.
  3. US shale production is expected to gradually increase as drilling activity in the shale basins has been gradually rising.
  4. Norway is the second biggest exporter of oil and gas to Europe after Russia. However, just like any oil and gas producer, Norway is looking for a guarantee that demand for its oil and gas will be there well beyond the next few years.

Watch the discussion:

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