Prospects for IOCs and Oil Prices: Lower for Longer?
Professor Paul Stevens, Distinguished Fellow, Energy, Environment and Resources, Chatham House
Chair: John Kemp, Senior Market Analyst, Commodities and Energy, Reuters
The crude oil market has been struggling with over-supply since mid-2014. This has created downward pressures on oil prices as inventories have reached record levels. At the same time, the oil market is going through fundamental structural changes driven by technological revolution and geopolitical shifts.
Paul Stevens will argue that international oil companies (IOCs) can no longer rely on the business model that has been driving them for the last 30 years. How much longer can the oil price drop be maintained? And if the industry is in a new oil price paradigm, what alternative business models should oil companies be exploring?
To enable as open a debate as possible, this event will be held under the Chatham House Rule.
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