Oil industry faces long-term investment crunch threat, says IEA’s Bosoni
‘Mature’ US shale industry, stranded asset risks and clean tech challenges mean sufficient energy supply could be in doubt beyond this investment cycle
The fortunes of the global economy have resulted in an increasingly fragile outlook for the oil market, with China’s tentative recovery and the US’ battle with inflation and banking uncertainty being key factors. This has unnerved Opec+ and prompted two sets of production cuts in less than six months, creating an uneasy tension between producers and consumers as the question of how to balance the market becomes ever harder to answer. The head of the IEA’s oil market division, Toril Bosoni, spoke to Petroleum Economist in an exclusive interview about where the oil market is heading in the near term and on the evolving role of investment, US shale and climate policies further out. How signific
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind