Boeing: Stable oil prices at $70-$80 per barrel; growth in single-aisle deliveries

Aircraft manufacturer Boeing says it anticipates oil prices to stabilise in the range of $70-$80 per barrel in 2008 dollars, over the next 20 years.

Boeing's view was announced by Boeing's vice president of marketing Randy Tinseth to the media in Sydney. Tinseth added that Boeing's forecasts have been proven "quite accurate" in this decade.

As per Boeing's projections, by 2027 the global passenger and freighter fleet will comprise 2,630 regional jets (seven per cent), 23,540 single-aisle aircraft (66 per cent), 8,290 twin-aisle aircraft (23 per cent) and 1,340 jumbo aircraft (four per cent).

The company estimates the total value at $3.2 trillion.

Tinseth acknowledged the company having overestimated sales of jumbo aircraft (747s and A380s) and regional jets in 2000 when it forecast the types would account for five per cent and 19 per cent of the market. As of August 2008, the respective percentages were three per cent and 14 per cent respectively.

Boeing also underestimated the sales of single-aisles, projected at 55 per cent, and twin-aisles  projected at 21 per cent, with the real figures now standing at 59 per cent and 24 per cent respectively.