Where next for oil?

Oil prices have slumped dramatically over the last six months, but have rebounded a little over the last week. In this Energy Watch we focus on the main factors likely to drive prices over the next few years. Given that the outlook is unusually uncertain, we also present three different scenarios for the oil price. In our central scenario, though, we expect the price of Brent will still be just $70 at the end of 2020 (a forecast we first made in 2012).