Oil prices in a changing world

A CBS Executive Education Masterclass

Stock market concept with oil rig in the gulf background

The price of oil has risen and fallen spectacularly in past decades, yet there is much debate about where prices will move in the future. Efforts to stabilise climate change, the devastating effects of COVID-19 and ongoing trade disputes are all contributing to market disorder and volatility.

In this Masterclass webinar series, you’ll learn about major drivers of the oil market and use economic principles to explain its extraordinary price performance. You’ll gain a clear picture of oil supply and demand determinants, and will analyse pricing prospects in the near future and beyond. In the final session, you’ll also consider natural gas prices and the evolution of gas in regional markets.

Program details

This is a series of webinars run on Wednesday mornings over four weeks.

Dates: 26 May, 2, 9 and 16 June
Time: 9:30am – 11am AWST
Where: Delivered online

Cost: Early bird registration (pay by 28 April): $459
General: $529
Curtin alumni, students and staff: $479
Group registration (5 or more): $429 per person

Learning outcomes

Using practical, illustrative examples, these webinars provide a clear explanation of oil pricing in international markets and give you the economic tools you need to gain insight into the future behaviour of the oil market.

Content includes:

  • Understanding oil market fundamentals.
  • Short-term and long-term determinants of oil demand and supply, and how these determinants inform prices in international markets.
  • Current oil price movements, past price behaviour and likely future directions that could impact business.

Who is this program for?

This webinar series is relevant to professionals working in the energy industry as well as government officials, researchers and students. It is also of benefit to anyone interested in the economic evaluation, market research or planning and investment of energy projects.

Program schedule

Session 1: Oil market demandWednesday 10 March
9.30–10.30amAnalysis of major drivers of oil consumption
• Determinants of oil demand in the short term and long term – oil prices, economic growth, technological change, prices of alternatives, consumer preferences, seasonality and energy policies.
• The oil demand function and curve.
• Elasticity of demand: how responsive is oil consumption to price changes?
• Intensity of oil use
10.30–11amLive and interactive session
• Case study: unprecedented demand shock from COVID-19
• Session Q&A
Session 2: Oil market supplyWednesday 17 March
9.30–10.30amAnalysis of major drivers of oil production
• Determinants of oil supply in the short term and long term – oil prices, production costs, technical advance, geopolitics, government activities and market structures.
• The oil supply function and curve.
• Elasticity of supply: how does oil production respond to price changes?
• Comparative cost curves.
10.30–11amLive and interactive session
• Case study: ‘OPEC+’ supply deals
• Session Q&A
Session 3: Oil price formation
and volatility
Wednesday 24 March
9.30–10.30amDetermination of oil prices in the short and long-term future
• Shifting oil pricing conventions – producer-dictated, commodity exchanges, bilateral contracts and price reporting agencies.
• Equilibrium oil prices and market balances.
• Investor demand (hedgers and speculators).
• Oil price volatility.
• Oil market reports and outlooks.
10.30–11amLive and interactive session
• Case study: Oil prices and the energy transition.
• Session Q&A
Session 4: Natural gas pricesWednesday 31 March
9.30–10.30amPrice formation in regional natural gas markets
• Natural gas price formation – gas-on-gas, oil indexation, hybrids.
• Gas market structures in major regions.
• Likely evolution of regional gas markets – price convergence and a global market?
10.30–11amLive and interactive session
• Case study: Increasingly competitive LNG trade.
• Session Q&A

Credit for Recognised Learning

When you complete this course, you can choose to study further, and may be eligible to receive up to 5 credit points towards Curtin’s flagship MBA Programs.

Program Details

This is a series of webinars run on Wednesday mornings over four weeks.

Dates: 26 May, 2, 9 and 16 June
Time: 9:30am – 11am AWST
Where: Delivered online

Cost: Early bird registration (pay by 28 April): $459
General: $529
Curtin alumni, students and staff: $479
Group registration (5 or more): $429 per person