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:
- 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.
- The rise in energy prices has fuelled inflation but on their own, they did not cause it.
- US shale production is expected to gradually increase as drilling activity in the shale basins has been gradually rising.
- 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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