Peak Oil

OECD Predicts $190 Oil In Seven Years

in
Share


Business Insider

8 March, 2013

A new report from the OECD says the price of Brent crude will hit $190 (h/t FT).

The reason is that worldwide demand is set to rebound — the group says should world growth return to anything close to pre-crisis rates there will be a commensurate price increase "far above early 2012" levels.

Here's the chart:

OECD

The only thing that could keep prices contained is if demand becomes much more sensitive to prices, something that the papers authors say doesn't actually happen much today.

SEE ALSO:  The 11 Factors That Determine The Price Of Gas >