Crude Intentions: What dictates the price of oil and how does this affect upstream energy?

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 quantity of upstream oil and gas claims.

Please note that this is an in-person event held at Lloyd's Old Library in London. You will not be able to attend virtually.

This presentation can be included as part of your CII / Personal Finance Society CPD requirement should you consider it relevant to your professional development needs. If you have any queries regarding the presentation, please contact Jake Hannath at jakehannath@matdan.com .

Speaker 

Jake Hannath, Associate Director at MatthewsDaniel

Jake graduated with a degree in Geology from Royal Holloway University of London in 2012, following which he gained experience in the oilfield working as a mudlogger with Baker Hughes in the UK sector of the North Sea. During this time he worked on jack-up and semi-submersible drilling rigs for various Operators, where his responsibilities included well control monitoring duties, engineering and drilling data analysis, and geological and hydrocarbon evaluation. In 2014 he started his career in the London market as an energy loss adjuster with MatthewsDaniel, where he has worked on a portfolio of upstream insurance claims around the world. He has recently been working on multiple offshore construction claims relating to FPSOs and subsea production systems. 

Jake currently sits on both the Lloyd’s Marine & Energy U35s Insurance Group Committee, and Insurance Institute of London (IIL) Marine & Energy Committee.