Depletion of Petroleum Reserves and Oil Price trends

Denis Babusiaux (1) , Pierre-René Bauquis (1)

1 IFPEN - IFP Energies nouvelles

This document is the report of the "Petroleum" working group from the French Academy of Technology, coordinated by the authors in the framework of the Energy and Climate Change Commission chaired by Gilbert Ruelle. Firstly, it present a synthesis of the different points of view about reserves and the peak of world oil production (optimists, pessimists and official organizations). Secondly, it analyzes the mechanisms of oil price formation focusing on the long term without addressing the question of short term market behaviour. The last section is devoted to possible scenarios of the evolution of production profiles and prices in the medium and long term.

Domaines: Sciences de l'Homme et Société; Economies et finances

Denis Babusiaux, Pierre-René Bauquis. Depletion of Petroleum Reserves and Oil Price trends: Cahiers de l'Economie, Série Analyses et synthèses, n° 66. 2007. ⟨hal-02469371⟩