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Shvoong Home>Business & Finance>International Business>Barrel of Oil hits 100 dollars by 2020 Review

Barrel of Oil hits 100 dollars by 2020

Article Review   by:Nuno_Duriense     Original Author: OJE
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This abstract was translated from Barril de Petróleo a 100 dólares em 2020
 
The International Agency of Energy (IAE) waits an ascent of the price of the barrel of oil for 100 dollars in 2020 and 115 dollars in 2030, according to the report on world-wide energy perspectives published the 10th of November 2009. The average prices of 2009 will be around 60 dollars, in a context of decline of the activity, before coming back to go up "because of the recovery of the economy" to reach 115 dollars within twenty years, in constant dollars of 2008 (without having in account the inflation), indicates the IAE, that represents the interests of the consuming countries. In 2008, the average price of the barrel is established in 97 dollars. The world-wide search of oil will increase 1% per year, passing of 85 million barrels per day in 2008 to 105 million in 2030 on average, this if had not been approved in the climate summit of Copenhagen significant alterations in the energy politics and of reduction of the gases with greenhouse effect. The estimate of the global search in the long run thus was reviewed in low by the IAE, since the year of 2008 pointed with respect to a total of 106 million barrels per day in the 2030 horizon. "The global financial crisis and the contraction had a strong impact on the perspectives of the energy markets", underlines the IAE in its report. "The world-wide search of energy in its set already fell with the economical contraction", it observes.
Published: November 11, 2009   
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