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The global oil market has been hit hard with collapsing demand while OPEC+ abandoned its production restraint and supply began rising. Topics will include: • The outlook for global oil demand in 2020 – how low can it go? • China demand is stabilizing – Will US and Europe follow that path? • The impact of low oil prices on US Lower 48 • OPEC and non-OPEC supply: What is up and what is down • Implications for 2020-2021 oil prices
2023 was a year in which the Middle East and North Africa (MENA) region consolidated 2022’s gains. 2024 heralds much uncertainty: an expansion of OPEC quotas will impact short term oil production across the region while capacity expansion continues apace.
Rapidly reacting to the oil market price crash, our experts discussed the immediate drivers influencing the market today and what we expect to happen as this continues to unfold. Our Vice Chair - Americas, Ed Crooks was joined by a panel of Wood Mackenzie’s experts to discuss: Immediate repercussions of the OPEC+ group failing to reach a deal Lessons learned from previous oil price crashes - what's different this time? The Lower 48 fallout - what happens next? The Corporate response - what does it mean for the industry's biggest players
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