Call for evidence: Prospects for crude oil supply and demand
The demand for oil has seen a strong recovery following the global recession, but what the demand and supply for oil will look like in the future is the subject of much speculation and uncertainty. To improve our understanding of these issues and broaden our evidence base, DECC collected the views of a range of experts including academics, advisory bodies and private business.
DECC has sought views and information to better understand the following areas:
- how oil supply and demand might change in the next one to 40 years
- the kinds of shifts in supply and demand that can be managed and those that would present a challenge
- what future oil prices are plausible
A summary of the evidence received and the responses we so far have received permission to publish are available below:
Report on the risks and impacts of potential future decline in oil production
This report details the key arguments in the debate surrounding future oil supply. It is internal work compiled from publicly available sources, which we are releasing – in conjunction with the material submitted to the Department on the future of the oil market – to enable a well-informed debate on these issues.