Geopolitical Issues Impact Global Energy Markets
Tom Petrie, Petrie Partners, points to the emergence of the "overlapping power triangles" of trade that have solidified in the global oil industry, as a growing factor in energy markets.
Walzel
Hart Energy
Wed, 11/27/2019 - 02:00 PM
Tom Petrie, Petrie Partners, speaks at the Executive Oil Conference in Midland, Texas. (Source: Emily Patsy, Hart Energy)
peaking at Hart Energy's recent Executive Oil Conference, Tom Petrie, chairman at Petrie Partners, laid out the multitude of geopolitical dynamics that will impact global energy markets, noting that energy price volatility is unlikely to abate.
Petrie discussed the implications of geopolitical world events on the oil and gas industry.
Petrie said that as the U.S. has increased its oil production—up to 12,800 barrels per day (bbl/d), according to the U.S. Energy Information Administration—and lessened its reliance on Saudi supply, Saudi supply has increasingly found an export market to China. Such a relationship, he explained, was indicative of the changing dynamics of energy supply partnerships around the world.
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Brian Walzel
Brian Walzel is senior editor for Hart Energy's E&P Plus.
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