Oil Forecast From a Reputable Firm
All data through 2014 is the actual price and production data. Data from 2015 through 2025 is forecast data. This data came out over a month ago so some of 2015 is forecast data.
All production data is in million barrels per day and is Crude + Condensate except the World forecast which includes NGLs. Notice also that all U.S. data dates from 2008 while all other data begins with 2013.
Oil price drops only slightly next year then rises in 2017 and 2018. Then it levels out for about 5 years before rising sharply in 2024 and 2025. My guess, and it is just my guess, is that the world begins to realize that oil production will never rise again.
This firm clearly has world oil production peaking in 2015 then dropping for five years before leveling out to up slightly for three years. Then resuming its decline in 2024 and 2025.
They have the US declining only slightly in the next two years then starting a slow climb until we peak in 2021 at a point just 40,000 barrels per day above the previous 2015 peak.
They have the Gulf of Mexico peaking in 2021 at 2.13 million bpd. The Permian peaks in 2020 at 1.9 million bpd. Eagle Ford peaks in 2019 abd 2020 at 1.51 million bpd and the Bakken peaks in 2021 abd 2020 at 1.36 million bpd.
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