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 63: The Biden Presidency and South Asia
Episode 62: Shiv Sena and Maharashtra Politics - One Year On
Episode 61: Trade Prospects of South Asia
Episode 60: Political Rumblings in Pakistan
Episode 59: Changing Geopolitics of South Asia
Episode 58: American Elections - Implications for India
Episode 57: India’s Approach to 5G - Is there Progress ?
Episode 56: The Road Ahead for Sri Lanka under the Rajapaksa Dynasty
Episode 55: US Presidential Elections - Role of South Asian Diaspora
Episode 54: Germany’s Indo-Pacific Strategy and its Way Forward
Episode 53: Navigating Sri Lanka’s Foreign Policy
Episode 52: The Big Tech Affair in India
Episode 51: Abraham Accord and Pakistan’s Role in the Muslim World
Episode 50: India and its engagement in the Indo-Pacific
Episode 49: Myths and Realities of Sri Padmanabhaswamy Temple
Episode 48: Future of Artificial Intelligence - Impact on the Indian Economy
Episode 47: China-Iran Deal - What’s the way forward for India ?
Episode 46: Sri Lanka- Singapore Mark 50 Years of Diplomatic Relations
Episode 45: Can Russia Play a Constructive Role in Sino-India Rivalry ?
Episode 44: Challenges and the Way Forward for Pakistan's Prime Minister Imran Khan
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