Summary at the link below.
http://www.ogj.com/articles/2015/02/bp- ... uary242015
I do not agree with their forecast of rising OPEC production, not with the whole region at war with terrorists. Their OPEC forecast assumes a big increase in production from Iraq.
BP Energy Outlook to 2035
BP Energy Outlook to 2035
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: BP Energy Outlook to 2035
I attended the ExxonMobil presentation on their 2040 Energy Outlook. Frankly, I think my interns could come up with the same report and it would cost a lot less.
Forecasting oil demand is actually quite easy. Just assume 1 million bbl per day increase each year and you will be close. Exxon's forecast is 120 million bbls per day market by 2040. Today the world consumes 94 million bbls per day of liquid fuels (including biofuels). Where another 26 million bbls per day is going to come from is the tough part. Their forecast assumes a lot more coming from OPEC and I sure don't see it. Even with $100 oil, OPEC production has been flat for over three years.
I do know for sure that $50/bbl is not going to cut it.
Forecasting oil demand is actually quite easy. Just assume 1 million bbl per day increase each year and you will be close. Exxon's forecast is 120 million bbls per day market by 2040. Today the world consumes 94 million bbls per day of liquid fuels (including biofuels). Where another 26 million bbls per day is going to come from is the tough part. Their forecast assumes a lot more coming from OPEC and I sure don't see it. Even with $100 oil, OPEC production has been flat for over three years.
I do know for sure that $50/bbl is not going to cut it.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group