U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
Annual Energy Outlook 2011
Release Date: April 26, 2011 | Next Early Release Date: January 23, 2012 | Report Number: DOE/EIA-0383(2011)
World oil prices in AEO2011, defined in terms of the average price of low-sulfur, light crude oil delivered to Cushing, Oklahoma, span a broad range that reflects the inherent volatility and uncertainty of world oil prices (Figure 52). The AEO2011 price paths are not intended to reflect absolute bounds for future oil prices, but rather to allow analysis of the implications of world oil market conditions that differ from those assumed in the AEO2011 Reference case. The Reference case assumes a continuation of current trends in terms of economic access to non-OPEC resources, the OPEC market share of world production, and global economic growth.