Conflict-Fueled Energy Swings Aren't Over, Woodside CEO Says [BNN Bloomberg (Canada)]
INPEX CORP UNSP/ADR (IPXHY)
NASDAQ:AMEX Investor Relations:
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Source: BNN Bloomberg
“The fallout has been massive, and the volatility is not over,” Chief Executive Officer Meg O'Neill said in a speech Tuesday to the Australian Energy Producers Conference in Perth. “It is instability absolutely nobody wants.” While oil and gas have retreated after spiking following the invasion in early 2022, they remain elevated. Liquefied natural gas prices are currently at the highest level since early January, and Brent, the global oil benchmark, has risen around 9% this year. Recent challenges mean there's a need to provide consumers with better security of supply, a factor that's supporting the outlook for natural gas along with rising energy demand in economies across Asia, O'Neill said. Read More: LNG Demand Will Surge 50% in Next Decade, Woodside CEO Says Australia's government this month backed the development of new gas resources, arguing production of the fossil fuel will be necessary to sustain the nation's export sector and also to avoid domestic energy shortfal
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