Title: Future of Oil Price
|Date:||January 28, 2013|
|Length:||3 / 692|
|No of views:||0|
|Essay rating:||good 0, average 0, bad 0 (total score: 0)|
Prices are now 58 percent below their peak of $145.29 a barrel in July.
As a result of higher prices and lower growth, the energy agency slashed its forecast for global oil demand by more than 10 million barrels a day over the next two decades. It now expects oil consumption to reach 106 million barrels a day in 2030, up from 86 million barrels a day this year...
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It expects prices to average more than $100 a barrel through 2015, and possibly rise to $200 a barrel by 2030.
The findings are part of the agency’s annual World Energy Outlook, which is scheduled to be released next week in full. An 18-page executive summary was made public on Thursday.
Much of the growth in oil supplies will come from the Organization of the Petroleum Exporting Countries, whose members hold the bulk of the world’s oil reserves...
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