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Industry-specific insight alone is not sufficient to make decisions of great scale. Connecting the dots to reveal interdependencies between both adjacent and seemingly unrelated sectors is required. It’s at these connection points where the greatest risks and opportunities await.
The recent plunge in oil prices represents the start of a new deflationary cycle for the global crude oil business, with profound effects on industries such as automotive, chemical and shipping not to mention the consequences for global and regional economies as well as for the energy sector as a whole. Much anxiety has emerged as The Great Deflation has taken hold.
The Ukraine crisis and now low oil prices are driving Russia further down the road toward state-controlled economic policies, nationalist politics, and the restriction of social freedoms.Learn More
Crude oil is both a basic raw material in the chemical value chain and also a primary input into very energy-intensive refinement processes. Shifts in oil pricing greatly influence chemical investments in capacity, where capacity will be added and overall capacity utilization rates.
There have been large changes in oil pricing before, the difference with the current situation is the exceptional supply growth that has overwhelmed demand. US production growth could come to a halt in 2015.Watch Video
From exploration to economics and from policy to pipelines – Dan helps energy concerns and other asset-intensive businesses predict and prepare for the impacts of low oil.Meet the expert
The reduction in crude oil pricing has helped the shipping industry reverse the negative drag of low freight rates and overcapacity. Waterborne storage of oil as a market-balancing measure may also provide positive trade winds for the tanker market.
Oil importing countries are gaining economic benefits like lower gasoline prices which translates into more demand for cars. Negative economic impacts on oil exporting countries will tend to lower demand. Ultimately, lower oil prices are forecast to drive a two percent increase in overall global auto demand in the next four to five years.
The next five years will see accelerated growth in the global supply of the three key base chemicals.
Find out how the answers to this question and more by reading the expert opinion of Dan Yergin on The Great Deflation of oil prices.
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