Chart and statistics of historical crude oil barrel price in constant US dollars (2009=100), from 1968 to 2011, and non-linear projection until 2050, showing an upward trend that may drive barrel prices to $200 by 2035 and more than $300 by 2050. The barrel price was $14.4 in 1968 and reached $92.51 in 1st quarter of 2011. Volatility is high, barrel prices being very sensitive to exogenous variables such as political, financial and economic turmoil

Oil being a scarce resource, prices are likely to rise as GDP (gross domestic product) grows, notwithstanding the short-term economic ups and downs.
Data are presented in constant 2005 dollars.
EIA warns that the barrel oil price may hit the $200 hurdle by 2035.

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