1. Risks and challenges to oil and gas markets in the current Middle East conflict
- Author:
- Colby Connelly, Emily Stromquist, Karen Young, Yesar Al-Maleki, and Nikolay Kozhanov
- Publication Date:
- 03-2024
- Content Type:
- Video
- Institution:
- Middle East Institute (MEI)
- Abstract:
- The Middle East Institute’s (MEI) Program on Economics and Energy cordially invites you to a panel discussion of the war-time threats to energy transit along the Red Sea corridor and to regional production facilities, within the context of broader supply-and-demand dynamics. Since Hamas’ Oct. 7 terrorist attack on Israel and subsequent war in Gaza, hydrocarbon prices have held relatively stable, although attacks by Houthi militants on shipping in the Red Sea could cause long-term market shifts and geographic segmentation. Why have we seen such a low impact on oil prices to date despite profound regional instability? What explains natural gas prices staying at historic lows? Are Gulf oil facilities at risk? What is the outlook for gas production in the Eastern Mediterranean? And how is OPEC considering outside supply competition and near-term demand? To answer these and other questions, MEI has convened five top US and regional energy and geopolitical risk analysts, who include contributors to MEI’s new edited volume Energy Transitions in the Middle East. They will reflect on their assessments of oil and gas markets prior to Oct. 7 as well as share their views on the current risks and challenges for fossil fuel producers in the region.
- Topic:
- Economics, Markets, Oil, Energy, and Natural Gas
- Political Geography:
- Middle East, Yemen, Gaza, and Red Sea