COVID-19’s severe impact on oil prices and global supply chains has raised questions about the long-term implications of the pandemic on energy markets. As it continues to spread within and across borders, it leaves no energy market untouched, from coal and natural gas to wind and solar. The International Energy Agency has emphasized the need for producer countries to diversify their economies to navigate the plethora of uncertainties stemming from unprecedented drops in demand for crude oil and refined products.
How will COVID-19’s impact on economic growth, energy markets, and geopolitics transform the energy system? Which industries will be the hardest hit, and which have the best mechanisms to weather disruptions to their supply chains? How will an ongoing oil price war between OPEC and OPEC+ producers reshape the future of the oil market? Does the current state of affairs provide any opportunity for greater renewables integration into national energy portfolios?
International Energy Agency Executive Director Dr. Fatih Birol joined Atlantic Council President and CEO Fred Kempe for a virtual “fireside chat” on Thursday, March 26th at 12:00 p.m. to discuss the future of energy markets in the face of the global COVID-19 pandemic.
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