Current economic prospects for energy producers and exporters in the Middle East and North Africa appear positive. Among other factors, a relatively high oil price compared with recent years has enabled many of the region’s producers to increase investment in the oil and gas sector while also pursuing fiscal policies and reforms intended to diversify their economies over the longer term.
This outlook is tempered by uncertainty, however. There are numerous geopolitical and market factors that will determine whether it can be sustained – from the mid- to long-term effects of the US withdrawal from the Iran nuclear deal, to questions over the ability of OPEC and its members to manage oil supply and prices.
The 2019 Chatham House Middle East and North Africa Energy conference will address these and other key issues, including:
- The extent of spare capacity in global oil markets and implications for MENA oil producers;
- The interplay between established and emerging powers and the competition for influence in the region;
- Incentives and attitudes to investment in the region’s oil and gas sector; and
- The region’s economic and energy reform agenda and structural barriers to diversification.
The Chatham House Rule
To enable as open a debate as possible, this conference will be held under the Chatham House Rule.