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Author Topic: Global oil prices unlikely to fall below $100/b until 2025: Lukoil Back to Topics
brbaritone

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Virginia

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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
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52MPG
Champion Author Dayton

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Message Posted: Jun 19, 2013 11:14:03 AM

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

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Message Posted: Jun 19, 2013 9:08:28 AM

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

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Message Posted: Jun 19, 2013 8:12:39 AM

Regulated to 4$ a gallon.
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Trudat316
Veteran Author Missouri

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Message Posted: Jun 19, 2013 2:29:42 AM

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

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Message Posted: Jun 18, 2013 11:41:59 PM

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

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Message Posted: Jun 18, 2013 10:06:52 PM

Today I could believe this .
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xgojim
Champion Author Michigan

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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?
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Jeff4U
Champion Author Atlanta

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Message Posted: Jun 18, 2013 5:18:23 PM

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

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Message Posted: Jun 18, 2013 3:36:02 PM

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

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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.
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jjjleblanc
Champion Author Rochester

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Message Posted: Jun 18, 2013 12:06:21 PM

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

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Message Posted: Jun 18, 2013 11:08:33 AM

these guys know nothing
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ontheroadBC
Sophomore Author British Columbia

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Message Posted: Jun 18, 2013 10:46:03 AM

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

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Message Posted: Jun 18, 2013 10:21:52 AM

blame speculators
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IronMyShirt
Champion Author Akron

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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.
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skempton
Champion Author Vermont

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Message Posted: Jun 18, 2013 9:01:43 AM

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

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Message Posted: Jun 18, 2013 8:59:58 AM

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

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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
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streetdesign
Champion Author Illinois

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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.
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drpepperTX
Champion Author Texas

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Message Posted: Jun 18, 2013 8:44:11 AM

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

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Message Posted: Jun 18, 2013 8:26:16 AM

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

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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.
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AVKZ
Champion Author Kalamazoo

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Message Posted: Jun 18, 2013 8:06:39 AM

They don't know.
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lcleveland
Champion Author San Antonio

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Message Posted: Jun 18, 2013 8:04:36 AM

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

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Message Posted: Jun 18, 2013 7:59:10 AM

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

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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.
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brbaritone
Champion Author Virginia

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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.
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