Oil $20 by Easter 2009

[Stogie]

My prediction is that oil will slip to around $20 a barrel by next Easter.

If it does; blame Asia and India!

Am I talking shit?

[Snick]

My bet is $35

[bbb2k2]

My bet is around $50. OPEC (and others) will do something is the prices continue to fall.

[Dieter]

Me more into the prizes of oily´s....

But me think also around 50$ .....

Dieter

[pacman]

20 bucks seems low, but the world economy is going to hell in a handbasket - I'll settle for $25.

[rossco]

40/45

If the price falls there will be intervention by producers and speculators - as per normal.

As 'easy' resources are exploited the Oil companies need to maintain a higher level to exploit more expensive fields.

[Tomcat]

If it fell to 20 bucks ill bet 20 bucks that the tanks will out on the streets in Moscow thats if they aint out before Easter...

By Easter i guess around 65 USD...but i wont be putting my house on it  

[terryw]

Todays Daily Telegraph is predicting $25 by the early summer.

My sister in law is Russian and she is predicting civil unrest in Russia by the middle of next year. Apparently the government budget is based on a price of $95 a barrel.

[BlueBallz]

That goes for Iran as well. They were planning for it to be around AT LEAST $90. They already have big problems. Would be rather interesting to see some civil unrest there!

BE CAREFUL OUT THERE!!

[jimslim]

Well I hope so ........

I just paid £210 for 500 litres to keep my feet warm at night for a few months

[Snick]

(BlueBallz @ Dec. 06 2008,03:32) That goes for Iran as well.  They were planning for it to be around AT LEAST $90.  They already have big problems.  Would be rather interesting to see some civil unrest there!

That is all I want for christmas

[TiaoLang]

$20/$25 - I do hope not, but it is a strong possibility.

The Arabs would be very happy at this price, they make a profit at $2 a barrel.

But, the Canadians need the price at a minimum of $60 a barrel to break-even fom the Oil Sands.

Venezuala will continue to make a profit at $10ish a barrel.

The price of oil is all dictated by demand and supply. If the oil price remains low then we are all struggling as this dictates a recession. Price high, demand is high, economy is strong.

So, do you want a crap global economy, or 'cheap' fuel?

Whichever way, somebody is making a tidy profit - $70 a barrel is reasonable.

Regards.

Tiao

[ciobha]

Whatever it falls to, us mugs in Britain and Ireland will still be paying way over the odds for a tank of petrol,and heating oil!

[azza33]

not a bad call... 1st half 2009 is gonna be an ugly bitch!

[TiaoLang]

Ciobha,

Current price of unleaded is approximately 89p a litre, VAT has reduced to 15%, fuel duty has been frozen for a while now.

Current gross profit margin at retail are approximately 2-3 pence per litre.

Duty rate is approx 50 pence per litre.

Exchange rates to the dollar are at a 4 year low.

Free schools and health service in the UK.

Do the maths !!!!!!!!!!!!!

Regards.

Tiao