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 103: BIMSTEC – The Way Ahead
Episode 102: Political Churn In Nepal
Episode 101: Destination Lakshadweep
Episode 100: The Return of the Taliban
Episode 99: Subscribe, Unsubscribe?
Episode 98: The Kashmir Issue
Episode 97: The Future of Afghanistan
Episode 96: Disaster in the High Seas
Episode 95: Bangladesh-Sri Lanka Currency Swap
Episode 94: From Tourism to Terrorism
Episode 93: How China and Pakistan Negotiate
Episode 92: India's New Vaccine Policy
Episode 91: China's Stake in the Afghan Peace Process
Episode 90: Sri Lanka and the UNHRC Resolution
Episode 89: India's Climate Change Policy
Episode 88: Assembly Elections Special - DMK Sun Rises Again in Tamil Nadu; BJP's Lotus Blooms in Puducherry
Episode 87: Assembly Elections Special – West Bengal Welcomes Mamata Banerjee; BJP wins Assam
Episode 86: Assembly Elections Special – Left is Right in Kerala
Episode 85: Pakistan In Focus
Episode 84: India-Russia Ties
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