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Oil Prices in a new light. F. Fesharaki. Hydrocarbon Processing, May 1994, 73(5), 143--149.

A new approach is suggested for the analysis of oil prices. Reasons for price changes are reviewed and different factors are examined. Results suggest a scenario in which oil prices will remain low for the next three to five years but rising oil demand is predicted. No new investments in LNG plants are foreseen and coal-fired and nuclear-based power stations will be unable to compete with fuel oil. The review suggests an increasing demand for OPEC oil and an increasing importance for oil in global energy supplies. This in turn may bring higher prices in five years, but until then prices are expected to stay in the range $10 to $13/brl.

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