IEA holds high-level roundtable meeting on producer economies
27 April 2018
Many traditional oil and gas-exporting countries are pursuing a range of economic reforms, including changes within the energy sector as well as broader efforts to reduce their dependence on hydrocarbons and diversify their economies.
The high reliance of resource-rich countries on hydrocarbon revenues creates well-known challenges tied to the risk of fluctuation in prices and boom-and-bust cycles in spending. But today’s market and policy environment is adding to the uncertainty these countries face, ranging from the near-term impact of the shale revolution to structural questions over the demand outlook for hydrocarbons.
These challenges will be addressed in the next World Energy Outlook, which for the first time will devote a special focus to producer economies. The analysis will cover the role of oil and gas revenues in resource-rich economies, and how they evolve in different scenarios to 2040. It will look at ways in which the energy sector can help or hinder the broader reform process, and also look at the potential implication of different pathways for energy markets, global environmental goals and energy security.
To help unpack the topic, the International Energy Agency held a high-level roundtable meeting in Paris yesterday on “producer economies in a changing energy world,” which brought together more than 50 decision-makers and experts from around the world to share their analysis and experience. The workshop was attended by representatives from dozens of different countries and organisations, both from the IEA family and beyond.
WEO-2018, which will be released in November, will also include a special fuel focus on electricity.