World oil prices could hit $380 per barrel in 2050, according to one scenario published in a recent Lukoil report. World oil prices could hit $380 per barrel in 2050. That’s according to one scenario published in Lukoil’s recent Global Energy Perspectives to 2050 report, which considered three scenarios for the global energy sector – Evolution, Equilibrium, and Transformation. The report outlined that, taking into account a carbon price, oil prices will vary greatly depending on the scenario. High carbon prices and inflation were projected to lead to $380 per barrel oil prices in the Transformation scenario, with prices in the Equilibrium and Evolution scenarios forecasted to come in at $197 per barrel and $128 per barrel, respectively. Lukoil’s report notes that the Evolution scenario assumes the ongoing development of global energy markets within the framework of the current international energy policy and national programs, considering existing technological capabilities. The […]