This is not the most optimistic forecast, base on Bloomberg. What is the highest forecast, I wonder?
Raymond James: Get ready for US$80 oil
(June 21): Rebounding after a two-year collapse, it's only this month that oil prices have pushed up past US$50 a barrel, but Raymond James & Associates says this is just the beginning for higher prices.
In a note to clients, analysts led by J. Marshall Adkins say West Texas Intermediate will average US$80 per barrel by the end of next year — that's higher than all but one of the 31 analysts surveyed by Bloomberg.
...
http://www.theedgemarkets.com/sg/article...y-us80-oil
Unlikely for oil to move to 80 unless major disruption in supply. Already it seems at 50 shale supply in usa is coming back online
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(21-06-2016, 12:14 PM)BlueKelah Wrote: [ -> ]Unlikely for oil to move to 80 unless major disruption in supply. Already it seems at 50 shale supply in usa is coming back online
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The thing is...
Unless you are a certain Saudi prince, I think nobody really knows how the oil price will be like.
All these analysts targets are just mere guesses, not much different from yours and mine.
I wouldnt pay any attention to them aside from the entertainment value
And don’t forget the crucial influence of inventories on prices. After all, with global output exceeding demand, the extra crude goes into storage. And when the storage facilities are full, the surplus will be dumped on the market to the detriment of prices. Cushing, Oklahoma, the delivery point for determining the price of West Texas Intermediate, is nearing full storage capacity; the same is true for the Amsterdam-Rotterdam-Antwerp region, the oil gateway to Europe. China is running out of capacity for commercial and strategic reserves. Globally, crude oil inventories have jumped to record levels, with a leap of 370 million barrels since January 2014.
Oil Is Still Heading to $10 a Barrel
http://www.bloomberg.com/view/articles/2...0-a-barrel
$10 bucks sounds about right!
about time that we have cheap oil in our lifes! not held ransom by oil producers!
Ha-ha so my previous estimate to $20 looks conservative in comparison
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Just curious.
Building Tanker to store Oil ?
How much a tanker cost ? How much to keep workers abroad ?How much to keep the ship floating ?
Is the industry crazy ?
(11-07-2016, 12:42 PM)corydorus Wrote: [ -> ]Just curious.
Building Tanker to store Oil ?
How much a tanker cost ? How much to keep workers abroad ?How much to keep the ship floating ?
Is the industry crazy ?
Its just part of the contango trade IMHO,though it may look crazy, but so long people think it will be profitable they will go for it..
There is still expectation world oil demand will grow and oil supply will dip when the US oil production continues to reduce.
But if there is something like a big recession globally, the futures market will go into backwardation, those traders will be caught naked and have to dump their stock, thats when we will suddenly have oil at sub $20 level if that scenario plays out.