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6th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets

15 March 2018

Vienna, Austria

The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) hosted the 6th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets at the OPEC Secretariat in Vienna, Austria on 15 March 2018.

The high-level meeting was chaired by OPEC Secretary General, HE Mr Mohammad Sanusi Barkindo, together with HE Dr Sun Xiansheng, Secretary General of the IEF, and Mr Neil Atkinson, Head of the Oil Industry and Markets Division at the IEA. Discussions were structured into five sessions focusing on the following key topics:

  • Recent oil market volatility
  • Developments in oil market financing
  • Emergence of blockchain technology
  • Price formation and small crude streams
  • Evolving crude trade flows

The Workshop is part of the trilateral work programme established by the IEA, IEF and OPEC, and endorsed by energy ministers at the 12th International Energy Forum in Cancún, Mexico, held in March 2010 and subsequent G20 meetings. The Joint Workshop represents the 8th event in this particular ongoing dialogue of the trilateral work programme that considers the evolving inter-linkages between physical and financial energy markets, and issues of common concern not typically addressed in other high-level fora.

To encourage open and informative discussions, the Workshop was held under the Chatham House Rule, with participation of key market participants on the financial and physical sides of the market. The next Joint Workshop is scheduled to take place on 19 March 2019.

Welcome and Opening Remarks

Session I: Recent Oil Market Volatility

Moderated by Harry Tchilinguirian, BNP Paribas

Session II Developments in Oil Market Financing

Moderated by David Chang, Wellington Management

Session III: Financial Oil Market Technology

Moderated by Bill Farren-Price, Petroleum Policy Intelligence

Session IV: Price Formation for Small Crude Streams

Moderated by Antoine Halff, Columbia University

Session V: Evolving Crude Trade Flows

Moderated by Giovanni Serio, Vitol

Key Links

Previous Workshops