(Fighting New Crown Pneumonia) Dean of China Energy Policy Research Institute: Ultra-low oil prices are not sustainable in the future
China News Agency, Beijing, March 28 (Xia Bin) China Development Forum recently held a "CDF Briefing" online video conference. Professor Lin Boqiang of Xiamen University and Dean of China Energy Policy Research Institute said at the meeting that ultra-low oil prices will not be sustainable in the future. .
Lin Boqiang said that since this year, WTI oil prices have fallen from nearly $ 65 a barrel at the beginning of the year to about $ 21 a barrel in the recent past. At present, the global oil market and the world economy are mainly facing two uncertainties. One is the scope and duration of the epidemic, and the impact on oil demand. At present, all parties are expected to be pessimistic. The second is how much capacity OPEC + will increase after losing its constraints, which will cause a large supply-demand imbalance that will have a major impact on oil prices.
But he also emphasized that the ultra-low oil prices at this stage will not be sustainable in the future.
Wang Yiming, former deputy director of the Development Research Center of the State Council, said at the meeting that the new crown pneumonia epidemic will cause a "every 100-year impact". The first wave will mainly impact the Chinese economy, and the second wave will mainly impact the major developed economies in Europe and the United States. The global economy is expected In the first half of the year, it will fall into a great probability.
Jeffrey Sachs, a professor of economics at Columbia University, and Dwight Perkins, a professor at Harvard University in the United States, asked questions and exchanged views with the two speakers.
The conference was attended by more than 100 people from the United States, Europe, and Asia, including relevant leaders, institutional representatives, and scholars of multinational corporations. (Finish)