Demand for the world’s most important commodity, oil, has crumbled due to the COVID-19 pandemic. In the fourth week of April this year, the US oil prices plunged to below zero for first time in history. The fundamentals of the oil industry are not determined merely by demand and supply. Geopolitics, the politics of exchange rates and paper trading also impact its performance. This could be, by far, the greatest crisis the oil industry has ever faced impacting upstream and downstream activities. It is estimated that more than 400 industry-related companies worldwide will not be able to bear the production cost at US$20 per barrel.
This conversation between Dr S Narayan (Visiting Senior Research Fellow, ISAS) and Mr Vikram Mehta (Executive Chairman of Brookings India), looks at the impact and challenges that the dive in crude oil price will have on South Asia’s oil and energy sector, as well as the economic impact (consumption and net exports) on India. For India, there is also an urgent need to build linkages and pipelines between oil and gas producers in other parts of the region such as Bangladesh.
Episode 262: Sri Lanka's 2024 Presidential Elections: Campaign Politics and Challenges Ahead
Episode 261: India-China : The Future of Foreign Policy
Episode 260: Singapore-India’s Comprehensive Strategic Partnership: PM Modi’s Visit and More
Episode 259: Evolving India’s Foreign Policy as Prime Minister Modi visits Ukraine and Russia
Episode 258: Unemployment and Skilling in India
Episode 257: Political Developments in Post-Hasina Bangladesh
Episode 256: Sri Lanka's Presidential Election in September 2024
Episode 255: The Taliban in Afghanistan - Three Years On
Episode 254: The Indian Budget 2024
Episode 253: Islamist Militancy and Counterterrorism in Pakistan
Episode 252: Food Systems Transformation in South Asia
Episode 251: India's Cabinet Formation
Episode 250: Sri Lanka's Economic Progress and Challenges in 2024
Episode 249: Myanmar Conflict - Regional Ripples
Episode 248: Decoding India’s Foreign Policy in Modi 3.0
Episode 247: Indian Elections 2024 - Insights and Analysis
Episode 246: 20 Years of ISAS - A Special Episode and Visions for the Future
Episode 245: 2024 General Elections In India So Far
Episode 244: ‘Neighbourhood First’: Navigating India - Nepal Relations
Episode 243: The Climate Discourse in Indian Elections
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