online discussion organized by the Energy Policy Research Group (EPRG)
and Jean Monnet Chair in Energy and Innovation
David Mihalyi, Senior economic analyst at Natural Resource Governance Institute (NRGI) – USA, and visiting research fellow at the Central European University’s School of Public Policy (Hungary).
Professor Michael LaBelle, Associate Professor and Jean Monnet Chair in Energy and Innovation Strategies, Central European University, Department of Environmental Sciences and Policy and Department of Economics and Business
Oil prices have plunged 60 percent on average since early January, a result of plummeting demand, a growth in supply and a lack of storage capacity. It is uncertain whether prices will rebound. The International Monetary Fund released its latest forecasts for the global economy. While headlines described the IMF’s outlook as “grim”, the growth projections are still vastly over optimistic, especially for oil-dependent countries. Digging out of the low prices differs between countries. Kazakhstan, Kuwait, Malaysia, Norway, UAE, Russia, Saudi Arabia and Trinidad and Tobago have enough fiscal space to maintain public spending well into 2021. However, for some companies operating in countries where it’s relatively expensive to produce oil (such as Angola, Brazil, Canada, Malaysia, Trinidad and Tobago, the United States and Venezuela), could go bankrupt, leading to sustained lower output. David Mihalyi will be discussing a few of his recent articles reviewing national responses to low oil prices.
- IMF optimism and oil-dependent countries: be wary of sunny projections
- Coronavirus, the Oil Crash and Economies: How Can Governments of Oil-Dependent Countries Respond?
This session will be recorded for the Energy and Innovation podcast hosted by Central European University.
CEU's Energy Policy Research Group's (EPRG) is an interdisciplinary platform for energy policy research.
We encourage you to join us to debate these questions and more within the online discussion.
Location: Join Zoom Meeting
Meeting ID: 842 2868 2100