KSA to Host The Ninth International Energy Forum

Published February 18th, 2021 - 12:00 GMT
Saudi to Host The Ninth International Energy Forum
The structural energy policy and market shifts that COVID-19 brings shall influence future energy supply and demand modelled in long-term scenarios greatly as well. (Shutterstock)
Highlights
‘Structural energy policy and market shifts that COVID-19 brings shall influence future energy supply and demand’
The coronavirus pandemic will be in focus when the global energy market’s policymakers, industry players, and experts gather for a virtual event hosted from Riyadh.

“The COVID-19 pandemic impact on energy demand and supply balances is unparalleled in the history of energy markets. Restrictions imposed on the world economy caused a systemic shock that most severely struck short-range trends in liquids supply, demand, and stock changes as sweeping revisions show,” a paper prepared for the forum said.

Watch the IEA IEF OPEC Symposium on Energy Outlooks proceedings:

“The production adjustments that OPEC and Non-OPEC producers agreed to under the 2016 Vienna Declaration … cushioned the blow COVID-19 dealt energy markets as subsequent data series underscore.”

“The structural energy policy and market shifts that COVID-19 brings shall influence future energy supply and demand modelled in long-term scenarios greatly as well. A swift and inclusive global economic recovery depends on how various public health, macroeconomic, and other variables will reinforce domestic and international energy policy, sustainable development, and climate goals,” the document added.

Among the major personalities expected in the event are Prince Abdulaziz Bin Salman, Saudi Arabia’s energy minister; Shri Dharmendra Pradhan, India’s minister of petroleum, natural gas and steel; Timipre Sylva, Nigeria’s minister of state for petroleum resources; Mohammad Sanusi Barkindo, the secretary general of OPEC; Joseph McMonigle, the secretary general of International Energy Forum; and Dr. Fatih Birol, the executive director of the International Energy Agency.


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