The Middle East Institute is pleased to invite you to a lecture and discussion with MEI Scholar Herman Franssen examining the impact of changing market forces and policies on Middle East Oil.Oil from the MENA region represents close to 70 percent of global conventional oil reserves and close to 40 percent of global conventional gas reserves. The region produces about a quarter of the world's oil and holds all of the global spare production capacity.Demographics and high energy-intensiveeconomic growth will put future constraints on the region's ability to producer ever more oil and gas for an energy hungry world. With non-OPECoil production close to a plateau, future oil demand growth isexpected to be met largely from OPEC and in particular the Middle East.Traditional buyers like the US, Europe and Japan will have to compete for access to Middle East with the new buyers of China, India and other Asia. Rising competition for Middle East oil is likely to be complicated by potential conflict in the region.
Speaker: Herman Franssen