Energy Forecast: Oil prices expected to rise in the future
The U.S. Energy Information Administration predicts a rise in oil prices in the future. Predictions from the EIA for 2018 can be found here. The Worldwatch Institute validated these claims globally, stating that despite higher oil prices, the demand for oil is expected to rise beyond the amount that can be supplied, creating more room for renewable energy to grow. More information can be found here. In the article, Oil Prices: What to Make of the Volatility, Clifford Krauss discusses projections for oil prices in the future, who is benefitting and losing from the rise in prices, and the impact on prices from the OPEC and Trump Administration. Krauss’ article can be found here.