The IEA’s Prediction

Topics: Petroleum economics/production forecasting

The International Energy Agency’s (IEA) new energy outlook paints a generally optimistic view of the supply/demand balance and oil price picture to 2020. The annual report is one of the most widely watched and respected energy forecasts.

The IEA’s World Energy Outlook 2015 offers two possible scenarios for the near future: a tightening supply/demand balance that leads to oil prices rising to around USD 80/bbl by 2020, and a less optimistic view that has oil in the USD 50–60/bbl range 5 years from now. Here are the highlights of the report:

The IEA’s Prediction

John Donnelly, JPT Editor

01 December 2015

Volume: 67 | Issue: 12