Annual
Energy Outlook 2003 with Projections to 2025
Table 15. Forecasts of world oil prices, 2000-2025
| 2001 dollars per barrel |
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| Forecast |
2000 |
2005 |
2010 |
2015 |
2020 |
2025 |
| AEO2003 |
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| Reference |
28.35 |
23.27 |
23.99 |
24.72 |
25.48 |
26.57 |
| High price |
28.35 |
28.65 |
32.51 |
32.95 |
33.02 |
33.05 |
| Low price |
28.35 |
22.04 |
19.04 |
19.04 |
19.04 |
19.04 |
| Altos |
NA |
22.64 |
23.40 |
25.58 |
27.90 |
31.61 |
| GII |
28.12 |
21.28 |
22.09 |
23.54 |
25.08 |
NA |
| IEA |
28.63 |
21.47 |
21.47 |
21.47 |
25.56 |
27.61 |
| PEL |
28.63 |
21.21 |
18.46 |
17.47 |
NA |
NA |
| PIRA |
31.00 |
22.43 |
23.33 |
26.32 |
NA |
NA |
| NRCan |
22.28 |
22.28 |
22.28 |
22.28 |
22.28 |
NA |
| DBAB |
28.01 |
19.04 |
19.04 |
18.94 |
19.34 |
19.18 |
| EEA |
28.87 |
20.98 |
20.47 |
19.98 |
19.50 |
NA |
| Tables
A1 and C1. AEO2002: AEO2002 National Energy Modeling
System, run AEO2003.D102001B. GII (formerly DRI-WEFA):
Global Insight, Oil Market Outlook: Long-Term Focus (Spring-Summer
2002). Note: Prices shown here differ from those shown in Table 22. The
source is a later edition of the Long-Term Focus that was developed in
a nonintegrated run. Altos: Altos Partners, World Oil
Model, e-mail from Tom Choi (October 9, 2002). Note: Price is WTI at Cushing.
IEA: International Energy Agency, World Energy Outlook
2002 (September 2002). Note: Price is crude oil import price. PEL:
Petroleum Economics, Ltd., World Long Term Oil and Energy Outlook
(June 2002). Note: Brent price. PIRA: PIRA Energy Group,
Retainer Client Seminar (October 2002). Note: Price is WTI at Cushing.
NRCan: Natural Resources Canada, Canada’s Energy Outlook 1996-2020
(April 1997 and reaffirmed in August 2002). DBAB: Deutsche Banc Alex.Brown,
World Oil Supply and Demand Estimates (September 2002). EEA:
Energy and Environmental Analysis, Inc., EEA Compass Service (October
2002). Note: Price is U.S. refiner’s acquisition cost of crude oil. |
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