New York may be the financial center of the world, and London still has the reputation of being the place to finance oil projects. But if you want to gauge the genuine pulse of the financial world’s view on all matters surrounding oil, come to Paris.
The “City of Lights” is host to the International Energy Agency (IEA), along with major global banking interests that bankroll a number of worldwide energy projects, and the offices of principal OPEC-related financing funds.
As Napoleon once put it, “Secrets travel fast in Paris.” But not nearly as fast as informed opinions.
That’s why I’m in Paris right now, discussing energy matters with my European colleagues. And what they’re telling me is very surprising. The opinion here on OPEC’s current negotiations on capping oil production is unanimous.