Posted on 06/12/2007 5:23:12 PM PDT by Flavius
PARIS (AFP) - The world oil market risks being tighter later this year if OPEC is inflexible over production, the International Energy Agency warned on Tuesday, sharply raising its estimate for world oil demand in 2007. ADVERTISEMENT click here
The IEA pointed to unexpectedly strong demand in big emerging economies, a sharp fall of world supply in May and another crimping of supply in June because of routine maintenance on infrastructure outside the OPEC zone.
(Excerpt) Read more at news.yahoo.com ...
BOHICA
Time for energy independence yet? Or shall we wait until it hits $10 a gallon?
i still belive price is 30
price will drop in my opinion
Hot brides from the Ukraine too...
Is your belief strong enough to gamble your own money?
Lots of money to be made (or lost) in such a difference.
CRUDE OIL Daily Futures
http://www2.barchart.com/dfutpage.asp?sym=CL&code=BSTK
yes it is
i just dont trade futures
yet
New Flash: Freeper “Flowerplough” warns of tight oil market for the next decade. See “Asian demand”.
Do you have a time line for your prediction? Is $30 a barrel the price you believe oil will fall to in the near future?
opec did not want the 80s type of collapse
where they saw the 10 dollars gas
exxon guy that left said the fair price is 35
i imagine sometime during 2008 and if/when iran crisis is over(?)
so depends how lucky one gets with iran situation if it turns into iraq then no crash i imagine
if iran turns out positive then id say 1-3 yrs, back to 45-50
also there is 4 yrs worth of capacity in oil countries to supplement loss of oil coming from Iran, and there are 3 pipe lines build (not sure if done yet) that bypass the Persian gulf , again to prevent major disaster via Iran
i guess good indicators are that it takes 1 dollar to get oil out of the ground in Iraq, and 3 in Saudi lands, its 4 in
Kuwait that one was high number and most are concerned with that..
anyway thats teh logic behind the crash
Oil companies go deep into Gulf's potential http://www.chron.com/disp/story.mpl/business/4885052.html
If OPEC learned a lesson in the 80s, they had forgot it by 1998~99 when oil price dropped below $10/barrel.
Gasoline has never been priced at $10, even with inflation adjusted dollars.
i guess good indicators are that it takes 1 dollar to get oil out of the ground in Iraq, and 3 in Saudi lands, its 4 in Kuwait that one was high number and most are concerned with that..
It is cheaper to get produce oil in the Middle East but no where near this low.
Thanks for your opinion on the oil prices. I believe $45~50 is possible in 3 years, but there is far to many things that effect the market for me to bet on it.
had oil price in iraq at 1
and 3 with saudies
ap had a story on kuwait at 4 and they were complaining, so this is a 2nd report,
Al-Shall Economic Consultants said in a report published Saturday that the production cost has increased from 1.4 dollars a barrel in 2001 to 4.42 dollars a barrel in 2007, growing by 18 percent annually on average.
http://news.yahoo.com/s/afp/20070609/bs_afp/kuwaitoilprobe_070609175144 so i am SURE prices are that low
and im am also sure that i read 10 dollars not sure if price adjustment for inflation was there
i have not a clue where you get your data from but its not near what im getting so i guess we can all look at our data,
Those numbers reflect O&M costs only. The cost of oil needs to include the cost of exploration and capital investment because oil fields continuely decline in production without additional drilling, work overs and new infrastructure from the capital budget.
yeah keep thinking that
Since design and operation of oil production facilities are my career, my information is not second hand.
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