#Oges Webinar on Oil Price: Calculation, Prediction and Impact Why the Oil Price dropped? How is it impacting the world economy, national policies, company strategies, sector growth, individuals in non-oil sectors and of course O&G professionals. The answer is not as simple as the equation of Demand & Supply, there is much more and many more factors involved. A webinar on the topic was organized by Oges on 18 March, 2016. Session Highlights: Panel: Dr. Mike Lynch President, Strategic Energy and Economic Research, a consultancy. Dr. Sorin Dobircianu Director of GSG Romania, Universal Premium Luxemborg,Operations Director- Expert Energy Co. Dr.Eve Sprunt Author, Award Winning Energy Leader, Former SPE President Giorgos Beleris Lead Oil Analyst, MEA,Thomson Reuters Casper Sønderby Head of Projects, AH Industries Participants Info : 440 from 17 countries Coverage : Global (in 2 sessions) New Books for Oil&Gas Community: The "Peak Oil" Scare and the Coming Oil Flood. by Michael C. Lynch A Guide for Dual-Career Couples: Rewriting the Rules by Eve Sprunt Topics: 1. Factors considered to calculate oil price and how it is calculated. 2. Oil Economics : degree of impact of Geo-political events on Oil price 3. The OPEC - share capacity, production, strategy 4. Shale Oil outlook and its effect on Crude prices 5. Oil Inventories with countries 6. Impact of field Innovations and Discoveries 7. Oil Futures & playing factors for it 8. Oil Trading, analysis, prediction algorithm 9. Renewable energy: Time frame when it will become a major impacting factor for Oil prices Recording Available at http://www.oges.info/139538/

1. The Black Gold

3. “Crude oil is considered the "mother of all commodities"
‘’Approximately 50% of all the oil
consumed in the U.S. is for the
transportation industry.Oil consumed in
the U.S. by driving is nearly two times
that consumed by drivers in China and
India combined’’
“OPEC countries hold over three-quarters
of the world’s proven oil reserves, and that
number is rising…”
The U.S. has over 200,000 miles of
oil pipelines within its borders.
‘’Oil has been used by people for over 5,000
years”
Total daily oil production around
the world is 84,365,ai barrels a day
Total daily oil consumption around
the world is 84,249,000 barrels/day.
Oil is used to make common synthetic
fabrics like polyester, nylon, vinyl and acrylic
and Glycerin
Oil was first successfully
drilled in the U.S. in Titusville
Pennsylvania, in 1859.
Cushing, Oklahoma, is the
designated delivery point
for NYMEX crude oil
futures contracts
Crude oil was first pumped from the
ground in Sichuan, China 2,500 years
ago.

5. China’s Economy
American Shale
Elasticity of
Demand
OPEC’s Next Move
Geopolitical
Flashpoints
Russia’s Ability To Add
Global Production
Russian Ability to Add to
Global production

13. Year Nominal
Price
Inflation
Adjusted
Price
1979 $25.10 $80.89
1980 $37.42 $107.36
1981 $35.75 $92.97
1982 $31.83 $77.94
1983 $29.08 $68.96
1984 $28.75 $65.36
1985 $26.92 $59.09
1986 $14.44 $31.09
1987 $17.75 $36.88
1988 $14.87 $29.73
1989 $18.33 $34.90
Year Nominal
Price
Inflation
Adjusted
Price
1990 $23.19 $41.79
1991 $20.20 $35.02
1992 $19.25 $32.39
1993 $16.75 $27.39
1994 $15.66 $24.94
1995 $16.75 $25.96
1996 $20.46 $30.78
1997 $18.64 $27.43
1998 $11.91 $17.26
1999 $16.56 23.42
2000 $27.39 37.54
Year Nominal
Price
Inflation
Adjusted
Price
2001 $23.00 $30.68
2002 $22.81 $29.92
2003 $27.69 $35.55
2004 $37.66 $47.04
2005 $50.04 $60.44
2006 $58.30 $68.27
2007 $64.20 $72.98
2008 $91.48 $100.00
2009 $53.48 $58.75
2010 $71.21 $77.10
Year Nominal
Price
Inflation
Adjusted
Price
2011 $87.04 $91.37
2012 $86.46 $88.93
2013 $91.17 $92.40
2014 $85.60 $85.34

14. #oges-oil-price-webinar
Monthly Average Domestic Crude Oil Prices Inflation Adjusted to March 2015

15. Date Nominal
Price
Inflation
Adjusted
Price
Jan-14 $87.82 $88.65
Feb-14 $93.44 $93.97
Marc-14 $93.66 $93.59
Apr-14 $95.20 $94.82
May-14 $94.82 $94.11
Jun-14 $98.18 $97.26
Jul-14 $95.46 $94.61
Aug-14 $89.20 $88.55
Sep-14 $86.07 $85.38
Oct-14 $77.44 $77.01
Nov-14 $68.62 $68.61
Dec-14 $47.25 $47.51
Date Nominal
Price
Inflation
Adjusted
Price
Jan-15 $47.25 $47.51
Feb-15 $43.85 $41.38
Mar-15 $40.74 $40.74
Apr-15 $47.10
Date Nominal
Price
Inflation
Adjusted
Price
Jan-12 $91.71 $95.54
Feb-12 $94.06 $97.55
Mar-12 $98.04 $100.92
Apr-12 $95.11 $97.60
May-12 $86.20 $88.56
Jun-12 $74.33 $76.48
Jul-12 $79.65 $82.09
Aug-12 $87.13 $89.30
Sep-12 $87.89 $89.68
Oct-12 $82.54 $84.25
Nov-12 $79.67 $81.71
Dec-12 $81.23 $83.53
Date Nominal
Price
Inflation
Adjusted
Price
Jan13 $87.65 $89.88
Feb-13 $86.25 $89.91
Mar-13 $87.50 $87.47
Apr-13 $84.83 $86.14
May-13 $87.93 $89.13
Jun-13 $88.58 $89.58
Jul-13 $97.77 $98.82
Aug-13 $101.75 $102.73
Sep-13 $99.40 $100.24
Oct-13 $93.69 $94.72
Nov-13 $86.96 $88.10
Dec-13 $90.90 $92.10

18. M
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21. 2014 2015 2016 (March)
$ 59/bbl $ 45/bbl $ 40.66/bbl