Spencer Dale – chief economist | Energy economics

bp chief economist Spencer Dale is responsible for advising the board and executive team on economic drivers and trends in global energy

bp Energy Outlook 2024 – webcast

At this year’s Energy Outlook launch – held on 10 July – Spencer Dale, bp’s chief economist, discussed the Outlook’s findings and what they could mean for the future of energy.

Watch a replay of the webcast

“Renewables are likely to be the fastest-growing source of energy over the next 20 years; penetrating the global energy system more quickly than any fuel ever seen in history.”

Spencer Dale, chief economist, bp

Role at bp

Spencer Dale is bp’s chief economist and SVP economic and energy insights. He manages bp’s global economics and energy insights team, providing input on economic and energy developments into the firm’s commercial and strategic decisions. bp’s economics and energy insights team also produces the bp Energy Outlook.

Background

Spencer Dale joined bp as group chief economist in October 2014. Prior to that, he was executive director for financial stability at the Bank of England and a member of the Financial Policy Committee. Between 2008 and 2014, Spencer was chief economist of the Bank of England and a member of the Monetary Policy Committee. Spencer joined the Bank of England in 1989 and served in numerous roles, including private secretary to Mervyn King and head of economic forecasting. Spencer served as a senior advisor at the US Federal Reserve Board of Governors between 2006 and 2008.

Education

He was educated at the University of Wales, gaining a BSc in Economics in 1988 and at the University of Warwick, gaining an MSc in Economics in 1989, whereupon he immediately joined the Bank of England.