The Secretary General of the IEF, Aldo Flores-Quiroga, participated as keynote speaker during the closing session of the Harvard Business School Energy Symposium, organised by the HBS Energy and Environment Club. Under the theme “Managing through Volatility”, the Symposium gathered experts in the areas of energy, finance, and management, who shared their perspectives on the opportunities and challenges for investment in the energy industry under the current environment of uncertainty.
Dr Flores discussed the recent history of oil price volatility, how it has affected producer-consumer relations, and how the IEF works with its members to promote greater stability and efficient price formation in the global oil market. As he noted, it remains a challenge to determine a level of volatility that is acceptable to producers and consumers, as well as governments and companies. The IEF seeks to increase understanding of this issue and to increase market data transparency to support policy planning and decision-making. The work of the Joint Organisations Data Initiative (JODI), he emphasised, is key to any long-term strategy to cope with uncertainty.