Weekly commentary on oil markets and economy

In this commentary to the Gulf Intelligence, Dr Carole Nakhle, CEO of Crystol Energy, discusses the latest energy market developments.

Dr Nakhle comments on oil prices, arguing that they have been trading within a well-defined corridor of an average of $40/bbl since June due to the opposing forces of OPEC supply cuts and shaky demand. She also talks about the economic recovery, adding some caution to the outlook of the global economy.

Poll Results

In this poll from Gulf Intelligence, almost 1 out of 2 respondents believes that it will take about two years for excess global inventories to drawdown

With a V-shaped recovery not happening as initially projected, Dr Nakhle argues that it would be interesting to see whether OPEC+ will stick to the terms set in the deal back in April which was based on the assumption of this rapid recovery. She further discusses the possibility that OPEC revisits its decision on increasing its production at the upcoming OPEC+ meeting next week.

Dr Nakhle is joined by Andy Laben, Chief Operator Officer at Sahara Energy Resources, and Olga Labai, Director at Oil & Gas Consultants.

Listen to the discussion

 

Related Analysis

Oil Market Outlook: A Quandary of OPEC+”, Dr Carole Nakhle, Aug 2020

Oil market outlook: A cautious global recovery”, Dr Carole Nakhle, Jul 2020

The global oil market’s new, strange alliance”, Dr Carole Nakhle, Jun 2020

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Weekly update on global economy and oil markets”, Christof Ruehl, Sep 2020