Oil prices have increased with Saudi Arabia's voluntary cut of an additional 1 million barrels per day of its oil production and other OPEC+ members freezing their current production cuts through March (with the exception of Russia and Kazakhstan) as well as a faster than expected start of Covid-19 vaccination programs and demand recovery in Asia. Yet there is ongoing uncertainty over demand recovery in OECD countries particularly with renewed lockdowns and travel restrictions as well as discovery of a new strain of Covid-19 virus. On top of the demand uncertainties loom a long list of supply issues, whether from disruptions due to domestic upheaval in producer countries, or from OPEC+ non-compliance or a return of the US to the JCPOA and some significant level of return of Iranian production.

Please join us in this session to explore the outlook for oil prices in 2021. We are joined by Gary Ross, CEO of Black Gold Investors LLC and Founder and CEO of PIRA Energy Group, and Shin Kim, Head of Supply and Production at S&P Global Platts Analytics. Ed Morse, who is chair of the Energy Forum Advisory Board and Managing Director and Global Head of Commodities Research at Citi, will moderate the discussion.

As part of the discussion, we are conducting a survey on oil prices in 2021. Please submit your estimates here. Summary statistics of responses will be shared at the event (no personal identifying information will be shared). See link for our 2020 oil price survey results.

This event will be a virtual session on Zoom from 12:00 until 1:30 PM. Additional details will be provided to registered attendees prior to the session.

SPEAKERS

Gary Ross

Gary Ross is Founder of PIRA, an international energy consulting firm retained by some 550 companies/governments in more than sixty countries around the world which was formed in 1976 and acquired by S&P Global in 2016. Dr. Ross spent roughly two years at S&P Global Platts as Head of Global Oil Analytics and Chief Energy Economist and is currently the CEO of Black Gold Investors LLC, a family investment company. Dr. Ross is a leading authority on worldwide energy markets. He led PIRA from its inception, building it into one of the most important firms in energy market analysis. He was responsible for short- and long-term oil market forecasts, overseeing all of the group’s published research. He is renowned for his accurate projections of major oil market price moves. He advised many governments on energy markets and energy policy issues, and is a member of the Council on Foreign Relations. Dr. Ross holds a Ph.D. in economics from the City University of New York.

Shin Kim

Shin Kim is Head of Supply and Production at S&P Global Platts Analytics. She oversees short and long term oil supply forecasts and balances, the World Oil Supply Data Portal, and high-frequency fundamental updates on supply. She also directs the Platts Analytics Political Risk Service. Shin has nearly 15 years of experience in oil markets. She joined PIRA, now part of S&P Global Platts, in 2014. Prior to that, she worked in global commodities strategy focusing on fundamental energy analysis at Merrill Lynch / Bank of America Merrill Lynch, and oil and gas equity research covering Integrated Oils and Refiners. She holds a B.A. in political science and economics from Swarthmore college.

MODERATOR

Edward L. Morse

Ed Morse is Chair of the Energy Forum Advisory Board and Managing Director and Global Head of Commodities Research at Citi. He held similar positions at Lehman Brothers and Credit Suisse. He has taught at Princeton, Columbia and Johns Hopkins universities, worked as the Council on Foreign Relations, served as Deputy Assistant Secretary of State for Energy Policy, and in management at Phillips Petroleum. A co-founder of PFC Energy, a former publisher of "Petroleum Intelligence Weekly", he also worked at Hess Energy Trading Company. Among his consulting experiences has been designing Yemen's oil pricing policy and consulting for the UN Security Council on the design and negotiation of the Oil-for-Food Program for Iraq. Morse frequently writes guest editorials for The Financial Times, New York Times, Wall Street Journal and Washington Post and often is a commentator for Bloomberg TV and CNBC. He serves on advisory boards at Columbia and Princeton Universities and the business school at the University of Colorado. He is a Senior Fellow of both the USAEE and the IEEJ and in 2018 was named by Petroleum Economist in its inaugural “Global Energy Elite” issue as among the ten most prominent individuals in energy banking and finance.

Dr. Morse earned his doctorate in politics at Princeton University and his master’s degree at the Johns Hopkins School of Advanced International Studies.

PROGRAM

12:00 - 1:30 PM: Presentation and Discussion

COST

This session is complimentary for all registrants. Registration is required for event link details.

QUESTIONS

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