Watch the replay

Energy Price Shocks: Lessons from the Past and Way Forward

Follow the event on Twitter #WBGEP2022

00:00 Welcome and opening remarks
07:48 Forecast: Oil market outlook
22:21 Lessons learnt from past energy shocks
31:03 Policy priorities for facing energy market volatilities
39:14 Price pressures, subsidies and price controls
42:08 The role of fiscal and monetary policy
46:21 The role of energy price search in inflation
49:23 The response from central banks
51:28 Developing countries and energy transitions
58:13 The role of OPEC in prices and renewable energies
1:00:21 Closing remarks

The Global Economic Prospects (GEP), published in January and June of every year, examines global economic developments, prospects, and policies, with a focus on emerging market and developing economies.

The June 2022 edition of the GEP describes how the damage from the COVID-19 pandemic and Russia’s invasion of Ukraine has magnified the slowdown in the global economy. The report also offers fresh insights into the recent energy price increase that has heightened uncertainty in energy markets, impacting the global economy and highlighting the need for polices to address the underlying demand and supply imbalances.

This World Bank event brings together a diverse panel of experts to discuss lessons from previous energy price shocks, prospects for energy and metal markets, and policy options to accelerate transition away from fossil fuels while shielding vulnerable groups from damaging disruptions.

Watch global experts and policymakers discuss their insights on clean energy transitions and energy security.


Learning Resources