The report, Shale oil – the next energy revolution, examines scenarios that consider the potential impact of future growth in shale oil production on global oil prices and assesses how these changes could impact the wider economy and the oil and gas industry over the period to 2035.
The global impact of shale oil could revolutionise the world’s energy markets over the next couple of decades, resulting in significantly lower oil prices, higher global GDP, changing geopolitics and shifting business models for oil and gas companies, according to new analysis from PwC.
Shale oil production has the potential to reach up to 12% of global oil production. This extra supply could push global oil prices down by around 25%-40% in 2035 relative to an EIA baseline. Level of global GDP could increase by around 2.3%-3.7% ($1.7-2.7 trillion at today’s GDP values)