Review of the long-term average weighted oil price fluctuation forecasts

The article is concerned with the problem of necessary forecasting of probable future changes in oil and gas prices. The analysis of the long-term changes of the average-weighted oil prices up to 2050 is based on the study of current specialized literature. The main economic, technical and political factors affecting the principle trend of the oil price formation at the oil markets are evident. In the long run, a demand for oil will start growing and the limited oil supply will cause deficit of this resource, which eventually will lead to high oil prices. Further economic growth and increasing population will only strengthen this tendency.