Outstanding quotes from SPIEF 2021: Forum participants on energetics

The first meeting of the Arctic Council’s Sustainable Development Working Group (SDWG), chaired by Russia, took place from 26–28 October in a hybrid format in Moscow. The event was hosted by the Roscongress Foundation.

In this publication, the Expert RA rating agency gives a forecast for the development of the Russian oil market and assesses the potential financial situation of oil producing companies and refineries in 2019 and 2020.

The World Energy Council has published its annual World Energy Issues Monitor. Now in its 12th year, the report provides a forward-looking assessment of the global energy agenda based on the views of more than 2,500 energy leaders from 108 countries.

COVID-19 has created a demand shock in the oil market as social distancing reduces movement and daily travel for more and more of us each day. At present, most of the reporting agencies expect oil demand growth this year to be largely flat, well below the 1.2 million barrels/day (mmb/d) expected just a few months ago. And this demand growth forecast will likely be revised down further as large gatherings are cancelled, schools shut their doors, and companies implement policies to encourage or mandate working from home.