Oil Market Outlook: Turbulence or stability?
The tension between long-term aspirations to cut GHG emissions and short-term practical desires for affordable oil prices is a new fundamental variable for the world oil market. Some major consumers want more oil when prices are high, but otherwise discourage oil consumption and investment. Is this a recipe for dislocations and mismatches between demand and supply? What are the implications for upstream investment, oil prices, and the balance of oil market power?