This article considers short, medium and long-term prospects for the world oil market under the conditions of today’s global energy transformation. Stabilization on the world oil market achieved in 2017 due to the oil-producing countries including Russia took place against a backdrop of major changes in the world energy landscape that will be the ones to determine the future of the oil market in the long term. Whether we will face oil price «swings» or market trends will be corrected by mild control actions of producing countries? Is it possible that the oil era could be over or transformed into the new consumer quality in the face of decentralization, digitalization and decarbonization of the global energy demand? What factors will be decisive in the future development of the key energy market, which has been a «blood circulatory system» for the world economy and finance over nearly 50 years?

Key words: world oil market, OPEC+ Agreement, global oil consumption, oil production, world oil prices, forecasts, scenarios, decentralization, decarbonization, digitalization, petrochemical industry.