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Page added on November 29, 2013
Oil prices likely to decrease next year
Various geopolitical uncertainties have pushed oil prices higher recently (mainly political unrest in the MENA region) and may continue to do so for some time to come.
In the next 18 months, however, the overall trend in prices is declining.
Non-OPEC supplies continue to grow strongly, while economic growth in the US and Europe seems fragile and uneven – especially in the Eurozone where structural problems persist. Therefore, global oil demand growth projections are relatively subdued.
Our price scenario is based on the interaction between supply and demand dynamics for the next three and a half years. Present oil demand trends and projected supply growth indicate that up to the end of 2014 a decline in nominal crude oil prices is more likely.
Prices in 2013 will average approximately $3.80/bbl below the level of 2012. Little nominal change in prices is projected up to 2017, but in real terms there is going to be a gradual erosion from current price levels.
4 Comments on "Oil prices likely to decrease next year"
BillT on Fri, 29th Nov 2013 1:31 am
More BS from the ex-Arabian Oil minister.
Stilgar on Fri, 29th Nov 2013 1:59 am
Write some numbers on a wall, grab a handful of darts and start tossing. I know what I know, if you know what I mean, which doesn’t include the unpredictable interaction of numerous variables to determine future oil price.
Pops on Fri, 29th Nov 2013 11:57 am
Write your numbers on our wall!
The PO.com WTI price prediction game is here:
http://peakoil.com/forums/the-2014-po-com-oil-price-challenge-t68915.html
The World Price contest (Brent) is here:
http://peakoil.com/forums/2014-world-oil-price-challenge-brent-t68920.html
mo on Fri, 29th Nov 2013 12:48 pm
Hunger games with oil