Oil Goes Under: What Next?
As the Covid-19 pandemic rages, turmoil in the crude oil market has drawn global concern. On April 20, New York time, West Texas Intermediate (WTI) crude contracts for May delivery settled on -$37.63 per barrel, falling below zero for the first time. Is this an overshoot? If not, how long will it last? And what will it mean for oil producers, consumers, traders, and the global economy, especially China, amidst the Covid-19 pandemic? How will low oil prices impact global geopolitics?
In this Caixin Global Webinar, we bring together global industry practitioners and analysts, well-known experts and scholars to share their insights on the issue and advise on how to face the uncertain future.
How did this happen, and how low will oil prices fall?
What does such a low oil price mean for oil exporters, consumers and oil majors? What strategies should different groups adopt?
How will the OPEC+ react to it? What are the prospects for their recent agreement?
What impacts will this have on the Chinese and global economy amid Covid-19?
Will there be lasting impacts on the energy sector post-Covid-19? What implications are there for clean and renewable energies?
To what extent might it shift the geopolitical balance?
Timing: Thu. April 23, 20:00-21:00, Beijing Time/8:00-9:00, EST
Session duration: 60 minutes, including 30 minutes of dialogue between speakers and 30 minutes of commentary and Q&A.
Lu Ruquan, Director of International Department of the China National Petroleum Corporation (CNPC)
Roger Diwan, Vice President, Financial Services, IHS Markit (Click here for more latest research and analysis)
Yan Jiantao, Vice President and Chief Strategy Officer, OilChem
Li Zengxin, Deputy General Manager, Caixin Global