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In this issue, we offer a 3 year forecast of world petroleum supply and demand.
We always try to be as logical and accurate as possible in developing our forecasts. But as always, there is uncertainty.
Weather related fluctuations in demand and changes in economic growth complicate the forecasting process. For example, U.S. demand for motor gasoline is significantly higher during the summer driving season. It is safe to project higher gasoline demand during that period, but the exact amount and timing of the increase are not so predictable.
An easier prediction
What can be forecast with relative certainty is a significant increase in gasoline price …