Uncertainties About Future World Oil Prices

Abstract

Projections of world oil prices are made with the knowledge that circumstances surrounding the world market can change abruptly, often as the result of political considerations. The ability to produce oil and the overall demand for oil change less rapidly. Anticipated world developments in these areas suggest that prices, adjusted for inflation, could easily remain flat through 1985 and then rise steadily during the next 10 years, doubling by 1995.