Abstract
Several factors are determining the future of world oil supply from the Organization of Petroleum Exporting Countries (OPEC) or the non-OPEC. These factors are mainly related to oil price trends, resources deposits, technology and financial market schemes. This paper will evaluate the future prospect of world oil supply in different regions with respect to recent oil price volatility in light of current financial crisis. The price effects will be analysed in relation to resource endowments, technology and environment movements. An econometric estimation of oil supply is used to forecast world and regional supply up to the year 2015 under different price scenarios. Some policy implications will be drawn.
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