About this article
Published Online: Sep 24, 2016
Page range: 56 - 65
DOI: https://doi.org/10.1515/lpts-2016-0029
Keywords
© 2016 Hasan Mustafa, published by De Gruyter Open
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.
This study indicates signs of recovery in the oil price beyond 2020 and predicts oil prices will reach $80 in 2022. This scenario posits an opposite view to a large number of experts who believe that oil prices will remain low for a long time. The second less preferred scenario predicts oil prices of $60 in 2022 due to a big spread in shale oil production technology worldwide, combined with a significant increase in oil production costs.