This is an extract from CBC news : cbc.ca/news/canada/calgary/oil…alysis-deloitte-1.3521298
The analysis by Deloitte's resource evaluation and advisory team predicts the price of West Texas Intermediate (WTI) crude will average $44 US this year, climbing to $55 US by 2018, $70 US by 2020 and $80 US by 2022.
Judith Dwarkin, chief economist with RS Energy Group, says her firm is expecting an average for prices a little lower than Deloitte's predictions for this year, but in the same ballpark.
"Demand has grown at a very respectable and steady pace, averaging over a million barrels per day per year for the last 15 years or so. And that's helping. But when your supply overhang is a million and a half or more, that's not enough," she said.
World Oil and Gas News
The analysis by Deloitte's resource evaluation and advisory team predicts the price of West Texas Intermediate (WTI) crude will average $44 US this year, climbing to $55 US by 2018, $70 US by 2020 and $80 US by 2022.
Judith Dwarkin, chief economist with RS Energy Group, says her firm is expecting an average for prices a little lower than Deloitte's predictions for this year, but in the same ballpark.
"Demand has grown at a very respectable and steady pace, averaging over a million barrels per day per year for the last 15 years or so. And that's helping. But when your supply overhang is a million and a half or more, that's not enough," she said.
World Oil and Gas News