Is the world really moving away from oil?

We've seen widespread efforts toward electrification and renewable energy,

but oil continues to drive the global economy,

and it may retain that role for longer than most people expect.

I'm Allison Nathan and this is Goldman Sachs exchanges. Joining me to discuss supply and demand drivers shaping the oil market and what

they mean for investors and

consumers are my colleagues in Goldman Sachs research, Nikil Bandari and Dan Stroyven.

Nikil is the co-head of Apeck natural resources and clean energy

and Dan is the head of oil research.

Nikil's joining us remotely from Hong Kong and Dan is here in the New York

studio with me.

It's good to have you back in the studio, Dan and Nikil, good to have you on the program

I think for the first time, correct?

That's correct.

Thank you for having me.

So Dan, let's speak with you first.

We recently had a conversation with you where we talked about the fact that oil prices weren't

responding to the tension in the Middle East

and the geopolitical landscape as we would normally

expect them to, but we've been on a somewhat wild ride since then.

So talk us through the drivers of the recent oil price volatility and the implications for

your forecast.

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