Are we running out of oil?
In this study "Are we running out of oil?", we have examined the current status of the global oil market, providing insights into both the demand and supply drivers that will impact the oil price over the medium to long term.
From a supply perspective, key aspects such as technological advancements in oil recovery techniques, the boom in US shale oil production, political stability in oil-producing nations and the implications of sustained high oil prices were assessed to determine marginal costs and future production limitations. Regarding demand, the study looked at economic growth, the rise of electric vehicles (and other oil-demand inhibitors) as well as the price elasticity of oil in order to forecast long-term demand. The analysis also incorporated the expected long-term trend in oil prices, given the dynamics in both supply and demand.