RE: The Reality Billboard25 Apr 2021 17:15
do oxfurd now what they doing. i do bit more resurch. look see what U.S. Energy Information Administration make predicshun
Oil Price Forecast 2025 and 2050
The EIA predicted that, by 2025, Brent crude oil's nominal price will rise to $66/b.9
By 2030, world demand is seen driving Brent prices to $89/b. By 2040, prices are projected to be $132/b. By then, the cheap oil sources will have been exhausted, making it more expensive to extract oil. By 2050, oil prices will be $185/b, according to the EIA's Annual Energy Outlook.
The EIA assumes that demand for petroleum flattens out as utilities rely more on natural gas and renewable energy. It also assumes the economy grows around 2% annually on average, while energy consumption decreases by 0.4% a year.10