Oil Prices May Drop in the Mid-2020s

29 october 2019 | Ekonomika Segodnya

Experts predict that the main U.S. shale oil basins will peak during the 2020s, followed by a period of significant depletion, when the ability to increase production will be reduced. Alexander Kurdin, the Head for Research at the Department of Fuel and Energy Complex and Housing and Public Utilities of the Analytical Center, commented on the situation to the FBA Ekonomika Segodnya correspondent.

Alexander Kurdin
Alexander Kurdin
Department for Fuel and Energy Sector

Russia takes these trends into account in the context of competition with the United States in the oil market. "It cannot be ruled out that the oil supply at some point will grow at a faster pace. There are risks that despite the increase in oil demand, prices for it will drop in the mid-2020s if by that time manufacturers do not make any additional efforts to coordinate production," said Alexander Kurdin.

Source: Ekonomika Segodnya

Photo: Ekonomika Segodnya

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