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 203: Feminist and Colonial Discourses in India
Episode 202: Modi’s Visit to France - 25 Years of Strategic Partnership
Episode 201: SCO Summit 2023
Episode 200: Modi’s Visit to the US
Episode 199: IPEF: Turning a New Corner - Thai and Regional Perspective
Episode 198: IPEF: Turning a New Corner - an Indian Perspective
Episode 197: IPEF: Turning a New Corner - an Australian Perspective
Episode 196: India-Nepal Bilateral Relationship
Episode 195: ASEAN-India Maritime Exercise
Episode 194: India-EU FTA - Issues and Implications
Episode 193: Decoding the Karnataka Verdict
Episode 192: India’s SCO Presidency
Episode 191: Indian Foreign Policy amidst India’s G20 and SCO Presidency
Episode 190: South Asia Geoeconomics
Episode 189: Indian Foreign Trade Policy 2023
Episode 188: Examining a Decade of the BRI and CPEC
Episode 187: Political and Economic Crisis in Pakistan
Episode 186: The IPEF Negotiations
Episode 185: Connectivity and Cooperation in the Bay of Bengal Region
Episode 184: State Elections 2023 - BJP and Northeast India
Create your
podcast in
minutes
It is Free
The Meaningful Life with Andrew G. Marshall
The No-Frills Teacher Podcast
Heal, Survive & Thrive!
The Jordan B. Peterson Podcast
The Mel Robbins Podcast