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Author Topic: ‘Forecast Demand Fall Will Push Oil Price Down To $80 Pb’ Back to Topics
NOTSOGRN

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Michigan

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Message Posted: Jan 2, 2014 1:29:32 AM

Oil prices are forecast to range between $80 per barrel and $90 pb, largely due to fall of demand as compared to supplies. Oil expert Khaled Boudai told KUNA in an interview that the predicted decrease of the crude price would be as a result of fall of supplies of Iranian, Iraqi and Libyan oil, with the international economic blockade on Iran is forecast to ease off, Iraqi crude output would climb and Libyan crude exports would resume. Forecast rise of the oil supplies, in 2014, will range between 1.5 to two million barrels per day, thus a market glut is foreseen,...

Wide-scale output of shale oil is ruled out, said Boudai in the remarks to KUNA, also noting that cost of extraction of this type of oil is too high, $80-70 pb.
Visit Arab Times for full article
REPLIES (newest first) Post a Reply
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yardslave
Champion Author Oklahoma City

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Message Posted: Jan 4, 2014 6:53:43 AM

I smell a speculator...
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BBopp
Champion Author Dayton

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Message Posted: Jan 3, 2014 5:21:27 AM

Not if the speculators have their way.
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bston
Champion Author Oklahoma City

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Message Posted: Jan 3, 2014 2:08:19 AM

I'll be waiting…
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teafortwo
Champion Author Washington

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Message Posted: Jan 2, 2014 10:24:55 PM


Promises promises
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DanMtz
Champion Author Oakland

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Message Posted: Jan 2, 2014 7:43:21 PM

Didn't they say the same thing last year?
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PathfinderSC
Champion Author South Carolina

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Message Posted: Jan 2, 2014 3:36:32 PM

I do not believe this, So I will just wait and see.
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YumaFellow
Champion Author Arizona

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Message Posted: Jan 2, 2014 1:53:35 PM

We hear these predictions all the time, but the oil companies will find a way to keep the domestic price up.
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Norm10
Champion Author British Columbia

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Message Posted: Jan 2, 2014 1:25:47 PM

On what planet?
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Discovery02
Champion Author Colorado Springs

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Message Posted: Jan 2, 2014 12:50:45 PM

Oh something will happen to keep prices high. Perhaps there will be "tension in the Middle East" as has been used before to keep prices high.
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ObieDog
Champion Author Maryland

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Message Posted: Jan 2, 2014 12:32:46 PM

Keep conserving.
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yarman44
Sophomore Author Indiana

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Message Posted: Jan 2, 2014 11:50:39 AM

I'll believe it when I see it.
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MAlonghorn
Sophomore Author Austin

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Message Posted: Jan 2, 2014 11:40:18 AM

will push it down until another war breaks out.
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gopherthis
Champion Author Twin Cities

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Message Posted: Jan 2, 2014 11:34:14 AM

Yeah, Sure
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LogansGasPrices
Champion Author Indiana

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Message Posted: Jan 2, 2014 11:06:10 AM

I dout it but we will see
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rsm315
Champion Author Detroit

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Message Posted: Jan 2, 2014 10:59:15 AM

I Hope so
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Rednix
Champion Author Miami

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Message Posted: Jan 2, 2014 10:57:05 AM

I like the sound of a market glut.
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mberg
Champion Author Houston

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Message Posted: Jan 2, 2014 10:55:14 AM

Possible, but not likely.
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The_DR
Champion Author New Jersey

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Message Posted: Jan 2, 2014 10:54:28 AM

I'm cancelling my subscription to the Arab Times.
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HBC1972
All-Star Author Minnesota

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Message Posted: Jan 2, 2014 10:52:33 AM

Pure Speculation
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Double_Golden
Champion Author San Francisco

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Message Posted: Jan 2, 2014 10:51:49 AM

good, but speculator will try to push it up...
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Sethyl
Champion Author Miami

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Message Posted: Jan 2, 2014 10:50:01 AM

Bring it on!
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swkcpi
Champion Author Madison

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Message Posted: Jan 2, 2014 10:49:42 AM

I'll believe it when I see it. As long as there's money to be made by oil companies and speculators the price will go up.
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NickoliMB
Champion Author Manitoba

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Message Posted: Jan 2, 2014 10:49:33 AM

Now will this reflect prices at the pump??
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slgas
Champion Author Houston

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Message Posted: Jan 2, 2014 10:47:44 AM

Of course lower prices would put a damper on exploration.
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BartBuzz
Champion Author Atlanta

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Message Posted: Jan 2, 2014 10:47:29 AM

I'll believe it when it happens. My bet is that oil producers and developers will conspire to keep prices high.
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Wesk8
Champion Author Michigan

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Message Posted: Jan 2, 2014 10:46:30 AM

The differance between a wholesale price increase and a wholesale price decrease is that one gets passed on the the consumer.
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mdcsgt
Champion Author South Carolina

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Message Posted: Jan 2, 2014 10:46:05 AM

Oil is DOWN $1.61 a barrel & Gasoline is DOWN almost 4 cents (total of 7 cents DOWN since 12/31) a gallon. AMAZING what happens after the HOLIDAY GOUGING SEASON!!!!!
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truckpdlr
Champion Author Tucson

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Message Posted: Jan 2, 2014 10:45:51 AM

Lets hope so
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audreylw
All-Star Author Boston

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Message Posted: Jan 2, 2014 10:44:54 AM

But will it bring down gas and heating oil price?
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4BigBob
Champion Author Madison

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Message Posted: Jan 2, 2014 10:44:18 AM

Promising forcast, but we hope it's true.
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NightRider
Champion Author Dallas

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Message Posted: Jan 2, 2014 10:44:06 AM

Not gonna happen. Too much GREED.
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trekmanKY
Champion Author Kentucky

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Message Posted: Jan 2, 2014 10:43:47 AM

I don't know about that! Under $80 per barrel?
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vwilsonskis
Champion Author New Jersey

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Message Posted: Jan 2, 2014 10:43:40 AM

they will again just tax it more
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Mluvbears
Champion Author Akron

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Message Posted: Jan 2, 2014 10:43:09 AM

Ok
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TRAIN RIDER
Champion Author San Bernardino

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Message Posted: Jan 2, 2014 10:42:33 AM

That is better than having a rise in prices, but still not enough of a fall.
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filler
All-Star Author Toronto

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Message Posted: Jan 2, 2014 10:42:01 AM

Just like weather forecast, can't trust it.
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OldBullhead
Champion Author New Mexico

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Message Posted: Jan 2, 2014 10:41:58 AM

Whether this will actually pan out, of course, is questionable. It should, given market supply and demand forces.
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Dennisjk
Champion Author Detroit

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Message Posted: Jan 2, 2014 10:39:40 AM

That's still twice what it should be but at least it's got us exploring, drilling and fracking for our own oil here in the U.S.
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Smartywife
Champion Author Medford

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Message Posted: Jan 2, 2014 10:38:57 AM

Nor-easter means less driving, but more home heating fuel use. Let's hope that the price does go down to $80 barrel. We could use some economic relief.
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screwoilco
Champion Author Sacramento

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Message Posted: Jan 2, 2014 10:38:46 AM

yeah when?
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GKW
All-Star Author Virginia

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Message Posted: Jan 2, 2014 10:38:37 AM

Big oil and speculators will never allow the price of oil/refined products to come down - they would be forced to give up the lifestyle we have allowed them to become accustomed to.
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2parrots
Champion Author Massachusetts

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Message Posted: Jan 2, 2014 10:35:28 AM

Got a nor`easter blowing here in New England & that usually means higher prices.
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GGAlbo
Champion Author Detroit

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Message Posted: Jan 2, 2014 10:34:57 AM

The oil price should be under $40 PB!!!!
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car253
Champion Author Ohio

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Message Posted: Jan 2, 2014 10:26:06 AM

Another W.A.G.
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daytonabiker
Champion Author Florida

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Message Posted: Jan 2, 2014 10:15:37 AM

gasoline went up to 3.49 since new years eve in daytona beach florida
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scu227
Champion Author New Haven

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Message Posted: Jan 2, 2014 10:04:48 AM

Sounds more realistic than a previous article I read stating that prices started the year on the upswing on HOPES of demand increase.

With more and more supply sources coming into the mix and continued decrease in demand, I would hope that prices would eventually be forced down.
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bar1035
Champion Author Charlotte

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Message Posted: Jan 2, 2014 10:03:49 AM

Not as long as the Fed keeps printing 75 billion every month to goose the economy.
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werich44
Champion Author California

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Message Posted: Jan 2, 2014 9:59:44 AM

Prediction # 217 for the week.
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Buck_on_Bass
Champion Author Tennessee

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Message Posted: Jan 2, 2014 9:55:00 AM

We'll have to see what the prices drop to. I do not see an abundance in supplies pushing the Brent price that low. Demand in China and India will continue to grow which will provide a market for oil.
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Masquerade16
Champion Author Las Vegas

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Message Posted: Jan 2, 2014 9:37:19 AM

Promising forcast, but we hope it's true.
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