I have no idea nor will I take any guess as to the price of oil going forward. There are too many variables to make an educated guess. If you want a bullish or bearish POV on price…this isn’t likely the article for you. All I do know is the world is likely very near peak oil demand. Details and evidence follow… The combined 34 OECD nations (list HERE ) plus China, Russia, and Brazil represent 70% of global oil consumption while they represent about 40% of global population (chart below). In comparison, Africa and India (combined) make up 8% of oil consumption despite being 33% of global population and certainly beyond 2/3rds of all present net population growth (all population data is via OECD. stat HERE …and oil consumption via EIA HERE ). The chart below shows the EIA (Energy Information Administration) historic and estimated global oil consumption […]