Future oil price trends and volatility have a major impact on the economic attractiveness of distinct mitigation options and their mutual unit cost rankings. This report assesses the impact of different oil price scenarios on the abatements cost of mitigation options in Europe in 2020, using a technology-by-technology approach with an abatement cost model. It also includes an analysis of the global energy system, CO2 emissions and mitigation measures under different oil price scenarios until 2050.