Prospects for the global oil market in the scenarios of the Russian Energy Agency

The article describes the development of the world oil market, presented by the Russian Energy Agency of the Ministry of Energy of Russia within the framework of working out longterm scenarios for the future of world energy until 2050. The analysis focuses on oil extraction and peak oil consump- tion in various macroregions. A comparison is made with scenario forecasts of the International Energy Agency, the US Energy Information Administration, OPEC, McKinsey, BloombergNEF and bp Energy Outlook. Recommendations are given for the development of the Russian oil industry within the framework of the Rational Technological Choice scenario.