Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:02 AM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Global oil prices unlikely to fall below $100/b until 2025: Lukoil Back to Topics
brbaritone
Champion Author
Virginia

Posts:4,242
Points:2,444,925
Joined:Jan 2007
Message Posted: Jun 18, 2013 7:54:52 AM

Global oil prices are unlikely to drop below $100/b until 2025, supported by OPEC's market management efforts and crude demand growth in Asia, Leonid Fedun, vice president of Lukoil said Tuesday, presenting key findings of the company's first public long-term global industry outlook.

"Under our estimates, prices aren't going to drop below $100/b, with the [oil pricing] dynamics to be determined by three factors...softening or hardening of the [US monetary] policies...growing demand [for crude] in Asia and, in the longer term, African markets, and OPEC's stabilization efforts," Fedun said in an interview with Russia's Business FM radio station.

The so-called shale boom in North America is unlikely to have a visible downward effect on oil prices, according to Lukoil's outlook, Fedun said.
Visit Platts for full article
REPLIES (newest first) Post a Reply
52MPG
Champion Author Dayton

Posts:10,507
Points:2,519,065
Joined:Apr 2006
Message Posted: Jun 19, 2013 11:14:03 AM

predictions are not correct six months out. Why would I believe a multi-year prediction?
dabayer
Champion Author New Hampshire

Posts:4,362
Points:933,485
Joined:Oct 2005
Message Posted: Jun 19, 2013 9:08:28 AM

Crude s/b $75 bbl and gasoline at $2.50 .
POWERSTROKE7.3L
Champion Author Washington

Posts:1,435
Points:331,050
Joined:Jul 2009
Message Posted: Jun 19, 2013 8:12:39 AM

Regulated to 4$ a gallon.
Trudat316
Veteran Author Missouri

Posts:341
Points:54,840
Joined:Feb 2013
Message Posted: Jun 19, 2013 2:29:42 AM

Traitor$ at the top don't want to change their rigged game.
MidNJ
Champion Author New Jersey

Posts:10,171
Points:1,880,115
Joined:Sep 2009
Message Posted: Jun 18, 2013 11:41:59 PM

And what events happen in 2025 to lower the price below $100?
PathfinderSC
Champion Author South Carolina

Posts:12,884
Points:2,594,135
Joined:Mar 2008
Message Posted: Jun 18, 2013 10:06:52 PM

Today I could believe this .
xgojim
Champion Author Michigan

Posts:2,109
Points:1,163,170
Joined:Mar 2011
Message Posted: Jun 18, 2013 5:26:29 PM

What happened to cause these estimates to turn 180 degrees in six months? Our great economy? The great economy in Europe? The great economy in China and Asia? Less oil coming from the USA? OPEC being high and mighty about their prices? Some kind of imminent world war? A worldwide never-ending tsunami? How about some sort of concerted monopolistic speculation in the commodities market?
Jeff4U
Champion Author Atlanta

Posts:12,283
Points:2,628,395
Joined:Nov 2004
Message Posted: Jun 18, 2013 5:18:23 PM

It's funny how these predictions contradict themselves within mere weeks, or even days.
mitt4prez
Champion Author Tacoma

Posts:4,994
Points:2,007,715
Joined:Nov 2007
Message Posted: Jun 18, 2013 3:36:02 PM

And The Won(II)'s idiotic energy policies.
Alaydown
Champion Author Los Angeles

Posts:7,254
Points:1,233,585
Joined:May 2007
Message Posted: Jun 18, 2013 1:41:43 PM

Investors gasped when T. Boone Pickens first suggested that oil should be $100/b. Then he made it happen. Now someone is suggesting it is unlikely to fall below that price for the next 12 years. Perhaps they think the DemocRATs will remain in control that long because that is the only reason it would come true.
jjjleblanc
Champion Author Rochester

Posts:9,063
Points:2,290,900
Joined:Jun 2008
Message Posted: Jun 18, 2013 12:06:21 PM

Seems like a long time to make that bet.
investmentdr
Champion Author Cleveland

Posts:6,603
Points:2,187,925
Joined:Sep 2008
Message Posted: Jun 18, 2013 11:08:33 AM

these guys know nothing
ontheroadBC
Sophomore Author British Columbia

Posts:183
Points:255,280
Joined:May 2011
Message Posted: Jun 18, 2013 10:46:03 AM

prices won't come down - they won't make their $$$ then.
TripleHs
Champion Author Austin

Posts:3,868
Points:1,051,020
Joined:Oct 2009
Message Posted: Jun 18, 2013 10:21:52 AM

blame speculators
IronMyShirt
Champion Author Akron

Posts:2,825
Points:971,855
Joined:May 2012
Message Posted: Jun 18, 2013 9:32:10 AM

Demand can't grow until economies recover. Economies cannot recover with high fuel prices. Chicken and the egg.
skempton
Champion Author Vermont

Posts:4,206
Points:1,566,630
Joined:Apr 2010
Message Posted: Jun 18, 2013 9:01:43 AM

Lukoil is a Russian outfit that has laid waste to Siberia.
scu227
Champion Author New Haven

Posts:8,650
Points:1,549,480
Joined:Feb 2011
Message Posted: Jun 18, 2013 8:59:58 AM

Stop worryig about global prices and take care of our own country !!!!!!
screwoilco
Champion Author Sacramento

Posts:3,228
Points:842,545
Joined:Nov 2012
Message Posted: Jun 18, 2013 8:58:08 AM

Oil have been at mid 90's for a long time. don't know what they're talkin about
streetdesign
Champion Author Illinois

Posts:3,478
Points:1,336,510
Joined:May 2011
Message Posted: Jun 18, 2013 8:45:37 AM

That is nothing new. We know they would not being doing all this drilling if prices were lower. Oil companies already have so much money at the consumers expense.
drpepperTX
Champion Author Texas

Posts:14,381
Points:1,526,395
Joined:Apr 2011
Message Posted: Jun 18, 2013 8:44:11 AM

LOL, notice they don't mention 'speculators'.
mastermariner
Champion Author Texas

Posts:13,332
Points:1,246,315
Joined:Jun 2011
Message Posted: Jun 18, 2013 8:26:16 AM

Couldn't agree more that will keep the incentive to keep drilling.
Winatgas
Champion Author Kentucky

Posts:3,473
Points:885,505
Joined:Aug 2012
Message Posted: Jun 18, 2013 8:25:59 AM

I suppose this is a result of their strategic planning cycle that looks out at least 10 years. Most of these studies are based upon assumptions after assumptions and are normally wrong. But, at least someone is looking beyond the next year.
AVKZ
Champion Author Kalamazoo

Posts:1,969
Points:967,860
Joined:Apr 2012
Message Posted: Jun 18, 2013 8:06:39 AM

They don't know.
lcleveland
Champion Author San Antonio

Posts:3,765
Points:1,315,420
Joined:May 2011
Message Posted: Jun 18, 2013 8:04:36 AM

prices will never come down where they should be
humblepie
Champion Author Toledo

Posts:63,818
Points:3,151,145
Joined:Mar 2006
Message Posted: Jun 18, 2013 7:59:10 AM

few things cost LESS in ten years time my friends
NilesBishop
Champion Author Philadelphia

Posts:3,025
Points:739,065
Joined:Feb 2013
Message Posted: Jun 18, 2013 7:59:07 AM

Of course Lukoil has some of the highest prices at the pump in our area too. Guess they are just trying to justify their prices.
brbaritone
Champion Author Virginia

Posts:4,242
Points:2,444,925
Joined:Jan 2007
Message Posted: Jun 18, 2013 7:56:00 AM

The article continues:

"The [production] technologies deployed in North America allow for very high initial inflow rates but then output [from the wells] drops," he said.

US oil output rose by 13.9% to 8.905 million b/d in 2012 from 7.868 million b/d in 2011.

Fedun dismissed concerns that growth in Chinese demand for oil and oil products may slow in the longer term.

"Currently, just over 40 out of 1,000 families in China have cars. [The figure] will grow at least to 200 [out of 1,000] by 2025... which will be enough to triple China's demand for fuel," he said.

According to Platts estimates, Chinese apparent oil demand in May reached 9.53 million b/d, up 2% year on year.

Lukoil also said it believes crude production in Iraq, currently seen as a key challenge for OPEC's market management efforts, will not rise above 6 million b/d in the long term, Fedun said.

Iraq, now OPEC's second-biggest producer after Saudi Arabia, saw output edge down to 3.1 million b/d in May from 3.15 million b/d in April.

As a result, Lukoil does not see any significant developments that may trigger excessive crude supply in the long term, Fedun said.
Post a reply Back to Topics