OPEC and non-OPEC countries will meet in Vienna this week to decide whether to cut oil production to prop up tumbling prices. This comes amid high output from Saudi Arabia, Russia and the U.S. and slowing demand for oil in several non-OECD countries.
On this edition of the Columbia Energy Exchange, host Jason Bordoff talks to Paul Horsnell, global head of commodities at Standard Chartered Plc, a multinational banking and financial services company based in London. Previously, Paul was managing director and head of commodities research at Barclays Capital, head of energy research at JPMorgan and assistant director for research at the Oxford Institute for Energy Studies.
Paul and Jason got together in Vienna ahead of the OPEC meeting to discuss the decline in oil prices over the past few months, the impact of rising U.S. shale oil production, President Trump’s pressure on Saudi Arabia for lower prices, Russia’s role in decisions on oil production and other market developments. They addressed, too, what might be expected of this significant meeting.