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 221: Bangladesh’s Electoral Challenges
Episode 220: Analysing the Expectations for COP28
Episode 219: US Investment in Adani Port Project in Sri Lanka
Episode 218: India’s Climate Diplomacy
Episode 217: India’s Approach to the Israel-Palestine Conflict
Episode 216: Sri Lanka’s State of Democracy and Governance Challenges in 2023
Episode 215: Maldives Presidential Election Results
Episode 214: Women’s Reservation in India
Episode 213: Future of Green Hydrogen in India
Episode 212: Carbon Border Adjustment Mechanism
Episode 211: India’s G20 - Outcomes and Way Forward
Episode 210: India Post G20 Summit - Strategic Opportunities and Challenges
Episode 209: BRICS Summit 2023
Episode 208: Maldives Presidential Elections 2023
Episode 207: Two Years of Taliban Rule in Afghanistan
Episode 206: Climate Resilience in Indian Cities
Episode 205: Sri Lanka in 2023 - Economic, Political, and Foreign Policy Developments
Episode 204: Data Protection in India - Cybersecurity Implications
Episode 203: Feminist and Colonial Discourses in India
Episode 202: Modi’s Visit to France - 25 Years of Strategic Partnership
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