Gasoline and Diesel Prices in the OECD, China, and India: How Do They Behave During Volatile Times?

The collapse of crude oil prices in 2020, driven by the effects of COVID-19, the recovery packages implemented in 2021 to overcome the crisis, and the recent geopolitical conflicts in 2022, have marked a distinctive three-year period in the oil market. Furthermore, the public discontent regarding high record prices has spurred collaboration between KAPSARC, the Institute of Energy Economics, Japan (IEEJ), and the Italian Association of Energy Economics (AIEE). Together, they have compiled a dataset aimed at elucidating how the prices of gasoline and diesel evolved during this three-year span and which factors played a more significant role in determining the prices. Presented at a country level on a monthly basis, the data facilitates the identification of structural variations in gasoline and diesel prices across different OECD regions, as well as in China and India.

Insights About the Third Session of the Intergovernmental Negotiating Committee to Develop an International Legally Binding Instrument on Plastic Pollution

The third session of the Intergovernmental Negotiating Committee (INC) on Plastic Pollution took place in Nairobi, Kenya, from November 13-19, 2023. This session marks the third of five planned gatherings aimed at developing a global agreement to address the issue of plastic pollution. Despite the enthusiastic atmosphere fostered by substantive discussions and increased participation from various sectors, the lack of consensus among participants proved to be a significant challenge. Beyond the absence of consensus, there exists a dearth of justifiable evidence and transparency regarding the quantity and distribution of materials, as well as economic forecasting illustrating potential outcomes in the event of a substantial reduction in the production of plastics and petrochemicals. The stark reality is that such a reduction could pose a significant risk to global markets by failing to meet demand, potentially leading to scarcities in vital areas such as medical supplies, food provisions, and transportation products and resulting in job losses within the industrial sectors.

What Could Happen to the Oil Market if Iran’s and Venezuela’s Sanctions Are Lifted?

Disagreements between oil producers and consumers for keeping a stable market has resulted in actions from both sides, elevating concerns about the near future stability of the oil sector. On one side, producers have concerns about future demand uncertainties, while consumers look for more affordable oil prices. Some consider easing sanctions in Venezuela and Iran could help the consumers’ goal. However, easing sanctions on these two countries will have a limited impact on the market.

Stagflation: Should the Oil Industry Worry?

Oil is an essential commodity with an almost perfectly inelastic demand, despite its volatile price. In recent months, fuel prices have declined significantly from approximately $120 per barrel (b) at the beginning of June to less than $85/b at the end of September. Experts and market commentators suggest that this steady decline is symptomatic of the onset of a global economic recession. But what are these recessionary concerns?

Investment Challenges Affecting the Oil and Gas Industry

The unprecedented crisis generated by the COVID-19 pandemic has affected the investment in the oil and gas sector, which was already suffering from low investment levels, among other reasons due to the climate change misconceptions. This report analyzes the main challenges negatively impacting investments in the sector, focusing on the four most important problems: price volatility, uncertainties due to significantly diverging long-term forecasts, increasing climate change concerns, and the lack of regulation on environmental and social, and governance.

Reframing of Global Strategies and Regional Cooperation Pathways for an Inclusive Net-Zero Strategy in the Energy Transition Framework