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