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 123: China’s Indian Ocean Ambition
Episode 122: South Asia Outlook 2022 - Pakistan
Episode 121: South Asia Outlook 2022 - Sri Lanka
Episode 120: Spotlight On South Asia
Episode 119: Democracy Under Seige ?
Episode 118: Cryptocurrency Boom In India
Episode 117: US-India Trade Ties
Episode 116: Repeal Of The Farm Laws
Episode 115: Connectivity Creates Conflict
Episode 114: The Second Quad
Episode 113: India Resumes Vaccine Diplomacy
Episode 112: Politics of Recognising the Taliban
Episode 111: Lakhimpur Kheri Violence
Episode 110: Civil-Military Discord
Episode 109: Political Chaos in Punjab
Episode 108: Sri Lanka‘s New Strategy In India
Episode 107: New Political Party in Pakistan
Episode 106: Quad Summit and Indo-US Relations
Episode 105: NMP - A Good Move?
Episode 104: Unravelling India‘s Economic Data
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