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Forecast: Oil may fall in price to $24 by 2050

13.10.2021,12:22


October 13, Fineko/abc.az. The global policy of carbon neutrality may lead to reduction in oil prices to $36 per barrel by 2030 and to $24 by 2050.

This is stated in International Energy Agency’s report World Energy Outlook 2021.

This will happen because of the global policy on carbon neutrality. In this case, new oil and gas fields will simply become unnecessary.

But there are other scenarios for the development of events. In one of them, all the goals set for decarbonization in the world are being achieved. And thus the price of oil by 2030 reaches $67 per barrel and by 2050 to $64.