The update from Dr. Dean Foreman, Chief Economist for the American Petroleum Institute, covers our world wide energy markets. Dean has worked at Saudi Aramco and ExxonMobil, and has seen just about everything. So when the world hits it's first year of negative numbers, the oil glut, and an unstable world market, Dr. Forman has the insight on what is coming around the corner.
The world wide oil supply - " To keep it pithy" - As the economy goes - so does go the oil price. The market is bullish for next year on the next few years. Demand recovery, and economic stimulus has a possible 12 MBOE swing on the upside.
Thank you for stopping by, and I had an absolute blast! - Michael
About R. Dean Forman, Ph.D.
Dean forman
Chief Economist, API
Dr. R. Dean Foreman is API’s chief economist, specializing in global business and energy. With a Ph.D. in economics from the University of Florida, he came to API in 2017 from Saudi Aramco Strategy & Market Analysis in Dhahran, where he managed short-term market monitoring and the long-term oil demand outlook. Foreman has more than 20 years of industry experience in corporate strategic planning, market analysis & forecasting, finance and risk management at ExxonMobil, Talisman Energy and Sasol North America.
API represents all segments of America’s oil and natural gas industry. Our more than 600 members produce, process and distribute most of the nation’s energy. The industry supports more than ten million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. API was formed in 1919 as a standards-setting organization. In our first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.
Although our focus is primarily domestic, in recent years our work has expanded to include a growing international dimension, and today API is recognized around the world for its broad range of programs:
