No 29


Oil Outlook To 2020

The OPEC Secretariat every year releases projections for the oil supplyand demand outlook to the year 2020, prepared using the in-house OPEC WorldEnergy Model (OWEM). The latest outlook, presented to the OPEC EconomicCommission Board in March, has now been released.This article contains the key results fromthat report.

Reference Case

The assumption ismade that the OPEC Basket of crudes will average $18/Bfor the year 2002 and move back towards the...