The Paris-based inter-governmental energy advisory organisation’s latest medium-term market report said its analysis derived from the futures market curve has generated price assumptions of $55 per barrel on average for 2015, ramping up gradually to $73 per barrel in 2020.
The report said the assumptions show that oil market participants expect prices to recover as the market rebalances after cuts in upstream investment, but that “the market does not seem to be expecting prices to revisit earlier highs any time soon”.
IEA
