Costs have tumbled from more than $110 a barrel in the late spring of 2014 to not exactly $37 a barrel now because of oversupply and moderating interest.
Be that as it may, Opec said oil costs would start to ascend one year from now and, more term, would ascend because of higher investigation costs.
It expects the piece of the overall industry of Opec makers to shrivel by 2020 as adversaries demonstrate stronger than anticipated.
The gathering as of now records for around 30% of the world's oil generation, down from half in the 1970s.
Some portion of the explanation behind this decay is the rise of unfathomable amounts of shale oil delivered in the US. This has additionally been component in pushing down the cost of oil to 11-year lows.
In its World Oil Outlook report, Opec said it expected supply development from US shale to moderate drastically one year from now, as makers attempted to adapt to such low costs.
Opec's methodology this year has been to permit costs to fall by keeping up generation with the expectation that, in the long run, US shale makers will be constrained bankrupt.
