In this IIL marine and energy webinar, Jake Hannath Cert CII discusses the factors that dictate the price of oil and considers how this affects oil and gas industry activity and upstream oil and gas claims.
Oil is the lifeblood of modern civilisation and is one of our most critical commodities. However, the price of oil is volatile, with brent crude having reached lows of $20 per barrel and highs of $120 per barrel in the last five years alone.
What are the factors that dictate these huge price fluctuations and how does the price of oil affect exploration and development activity in the oil and gas industry? And what effect does this have on the number of upstream oil and gas insurance claims?
This presentation considers these questions and sees what patterns develop between oil price, industry activity and the size quantum of upstream oil and gas claims.