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IEF Oil Market Security Review With S&P Global Platts

25 October 2021, Hybrid Session

At the IEF Oil Market Security Review with S&P Global Platts, S&P Global Platts introduced the key findings of the S&P Global Platts Oil Security Sentinel Project. This was followed by an update from the IEF on the Post-COVID Recovery Energy Monitor and findings of the IEF-BCG report on Oil and Gas Sector Investment in the New Risk Environment.

Oil Security Sentinel is an interactive editorial project that explores the changing relationship between geopolitical risk and the price of crude. The analysis shows how diversity of supply, higher spare capacity and the expansion of strategic petroleum reserves have helped to insulate markets from the risk of supply disruptions.

However, oil supply has become less responsive to a demand recovery. A protracted fall in E&P investment, changing return on capital and environmental and social governance preferences are all factors.

The discussions considered the new market and risk environment for critical oil infrastructure and safe passage on maritime shipping lanes. Panelists analysed the risks that unexpected incidents could cause spikes in already elevated price levels, increasing market volatility and heralding an untimely return of geopolitical risk premiums.

Discussions enabled participants to assess whether existing oil market security mechanisms, from storage and spare capacity to data transparency and cybersecurity, are adequate and what issues warrant closer scrutiny.

Key Documents

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