After almost a decade of high oil prices, weakened demand from major oil consumers, combined with robust supply from conventional and unconventional sources including shale oil, has caused a rapid drop in oil prices. This has resulted in a global energy system that is vulnerable to price volatility. As such, oil pricing remains a highly contestable issue.
Reduced oil prices could potentially bring down natural gas prices in the Asian market, where the decoupling of gas from oil prices has been seriously debated. On the other hand, while lower oil prices have prompted some suppliers to guard their market share, others are revisiting their production plans due to decreased income.
Will lower priced oil continue despite the turmoil in the Middle East? Will lower priced oil continue despite projections of oil demand in Asia increasing substantially into 2040? Against this backdrop, as the main driver of global energy demand, how will Asia ensure secure supplies of energy at the right price in order to achieve sustainable economic growth?
The IEEJ Roundtable will provide an ideal platform for those keen to understand the recent developments in the oil markets and address the following questions:
- What was different about the recent drop in oil prices, compared to previous periods of low oil prices?
- What will be the oil price path for the future leading up to 2020 and 2030?
- What measures and policy initiatives are necessary to address such volatility in the oil markets?
- What role can emerging sources such as US crude oil and the discovery of oil fields in Africa play in securing global supply?
Programme Details:
| Time
| Programme
|
| 9.00 – 9.05
| Introduction
Yukari Yamashita, Board Member & Director of Energy Data and Modelling Center, The Institute of Energy Economics, Japan (IEEJ)
|
| 9.05 – 9.35
| Keynote Speech
Oil Price and Outlook – some points from Asia/World Energy Outlook 2015
Yukari Yamashita, Board Member & Director of Energy Data and Modelling Center, The Institute of Energy Economics, Japan (IEEJ)
|
| 9.35 – 9.45
| Introduction
Oil Price and Outlook – some points from Asia/World Energy Outlook 2015
Yukari Yamashita, Board Member & Director of Energy Data and Modelling Center, The Institute of Energy Economics, Japan (IEEJ)
|
| 9.45 – 10.25
| Speakers Short-Presentation
|
| 10.25 – 11.00
| Tea Break
|
| 11.00 – 11.30
| Roundtable Discussions
|
| 11.30 – 11.45
| Q & A
|
| 11.45 – 12.00
| Concluding Remarks
|
Moderator: