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Global Economy and Energy Markets Weekly Commentary – 16th Oct ‘20

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

Dr Nakhle comments on the latest publication of IMF’s World Economic Outlook, arguing that a v-shaped recovery continues to be expected but also continues to be delayed, and the question is when growth will return to pre Covid levels.

She also discusses OPEC+’s success to put a floor on prices over the last few months, highlighting though that the challenging mission for the group will now be to restore prices to pre-coronavirus levels. She also points out the worryingly rising spare capacity, which is often overlooked, arguing that historically when OPEC has been struggling to maintain discipline within the group has been during periods with high spare capacity.

Dr Nakhle further comments on the recent talks, which took place for the first time, between Lebanon and Israel to discuss maritime borders, pointing out the potential deeper geopolitical implications of that development not just for East Med but also for the Middle East.

In this commentary, she is joined by Dr Aldo Flores Quiroga, Former Deputy Secretary of Energy for Hydrocarbons Mexico’s Ministry of Energy, and Vandana Hari, Founder & CEO at Vanda Insights. Sean Evers, Managing Partner at the Gulf Intelligence.

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