Deloitte Middle East head of energy on OPEC cuts, US shale production and the outlook for 2019
In the second episode of Spotlight, our editor speaks with Deloitte Middle East's Energy, Resources and Industrials Leader Bart Cornelissen about OPEC, the US, the global economy and the key factors to watch in 2019
After a turbulent last quarter of 2018, it's hard to tell where the oil price will go in the coming year. OPEC agreed to cut 1.2mn barrels per day of production in 2019, along with its allies, but the market didn't react positively to the news. Instead, Brent crude dropped to $53 per barrel by end-2018, down from $86 in October.
Bart Cornelissen, Deloitte Middle East's energy, resources and industrials leader, said he isn't so concerned with short-term fluctuations, and noted a few key factors to watch out for going into 2019...