WASHINGTON (Sputnik) — The outlook also predicts an average price per barrel for Brent crude oil will range between a low of $73 per barrel and a high of $230 per barrel, with an expected price of $136 a barrel in 2040.
"Most of the projected increase will come from the United States, with much of the rest coming from countries such as Russia, Canada, and Argentina that have significant tight oil resources and existing, developed oil industries," a press release, accompanying the publication, explained.
The high-price scenario envisions increased drilling due to higher demand while the low-price scenario anticipates production cutbacks, the release noted.
