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Forecasting Oil Price And Demand

Forecasting Oil Price and Demand

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Title: Forecasting Oil Price and Demand

Essay Details:

Subject: Business

Author: Elaine G

Date: March 10, 2013

Level: University

Grade: A

Length: 5 / 1268

Essay text:

On a single day, say 1 Nov 2006, the demand would be 86.5 million bpd (barrels per day). Year World Population (Millions) Billion barrels Consumed Per Year World (bcy) barrels/capita per year Price/barrel 1986 4890 22.54 4.60 $ 32 1989 5150 24.04 4.67 $ 32 1992 5400 24.43 4.52 $ 29 1995 5610 25.51 4.54 $ 25 1998 5870 26.62 4.51 $ 18 2001 6130 27.74 4.53 $ 31 2004 6400 29.75 4.67 $ 55 2006 6600 30.23 4.58 (average) $ 59 2011 6900 (Projected) 31.57 (Projected) 4.58 (average) ? Oil Supply/Production: The current capacity (oil production) levels will be able to meet the required supply/demand for oil in 2011 and in the near long-term...

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