The collapse of Silicon Valley Bank puts pressure on oil prices

In this interview given to May Majdi from ATTAQA platform, Dr Carole Nakhle, CEO of Crystol Energy, discusses the implications of the collapse of Silicon Valley Bank on oil markets.

Dr Carole Nakhle discussing the implications of the collapse of Silicon Valley Bank on oil markets with ATTAQA

According to Dr Nakhle, the recent decline in oil prices reflects the concerns about a gloomy economic outlook ahead following the collapse of the Silicon Valley Bank in the US and the difficulties some other banks are facing. The agreement between Saudi Arabia and Iran also appeased geopolitical tensions in the Middle East, which is a major exporter.

Dr Nakhle added that it may be early for OPEC+ to intervene because it is still unclear whether the current situation is temporary or more structural. She, therefore, does not expect a change in OPEC+’s current policy, unless the downward trend in oil prices is sustained.

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