NEW YORK ( Trefis) -- An IMF working paper that takes a new approach to predicting the dynamics of the oil markets warns that oil prices could double over the next decade. The paper looks to combine the geological and the technological view of oil production to model the world oil market, factoring in technological advances and the impact of rising prices and geological constraints on production levels.The model, which more accurately predicts the recent changes in the oil market than pure geological or technological models, says that oil price in real terms (neglecting the impact of inflation), could be around $180/barrel and potentially as high as $200/barrel, in case of a tight supply scenario. Oil prices are among the most important drivers for energy companies such as
Big Upside for Big Oil: 10-Year Forecast
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