KAPSARC jointly convened its second workshop on Oil Markets on March 18, 2015 in The Hague, The Netherlands. Discussions addressed supply and demand responses in the market in the current low oil price environment; the effect expectations of supply, demand and inventory levels have on market behavior; and how the current environment would change global trade flows for both crude oil and refined products.  The current investment outlook in the upstream oil value chain was also discussed.

Representatives attended from academia, industry and multilateral agencies including the International Energy Agency (IEA), Columbia University, FuelsEurope, British Petroleum (BP), Canadian Energy Research Institute (CERI), Kuwait Foundation for the Advancement of Sciences (KFAS), Petroleum Policy Intelligence, Aramco Overseas Company (AOC), and Gunvor Group among others.