Oil Price Trend Expectations - CleanTechnica

The article presents Juan Diego Celemín Mojica’s perspective on future oil price trends, suggesting that oil prices are likely to decline in the medium term, potentially falling back toward historic inflation-adjusted levels between $10 and $40 per barrel. He argues that the current “new normal” price range of $40–$80, influenced by higher demand and OPEC’s market control, will not sustain as demand weakens. This decline would adversely impact high-cost producers such as the US, Canada, Norway, South American countries, and possibly Russia, whose operations depend on higher oil prices to remain profitable. Mojica highlights that past price drops, such as the 2014 fall to around $40 per barrel, led to reduced production due to diminished exploration and the depletion of existing fields. He notes a similar trend occurring in the US, where drilling activity has decreased, signaling potential future production declines once current fields are exhausted. He predicts a resurgence of OPEC’s influence (“OPEC Renaissance