Crude Oil Price Forecast 2011

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    • Crude Oil Price Forecast 2011

      This is an extract from Nasdaq website at…-average-8350/bbl-in-2011
      EIA: WTI Crude Oil To Average $83.50/Bbl In 2011

      NEW YORK -(Dow Jones)- The Energy Information Administration expects oil prices to gradually rise through the end of next year, the agency said Tuesday in its monthly short-term energy outlook.

      Benchmark U.S. crude oil will on average cost $79.83 a barrel in 2010, up from the previous outlook for $78.67 a barrel, the agency said. Prices are seen increasing from an average $77 a barrel in the first quarter of 2010 to $85 a barrel by the fourth quarter of 2011. In 2011, prices will average $83.50 a barrel, the agency said.

      Gasoline prices are expected to average $2.84 a gallon this year, up 1 cent from the previous forecast, while diesel prices are seen averaging $2.98 a gallon this year, up 2 cents from last month's outlook. In 2011, gasoline is seen averaging $2.96 a gallon and diesel $3.14 a gallon.

      Prices are expected to rise as "the world oil market should gradually tighten in 2010 and 2011, provided the global economic recovery continues as projected," the EIA said. Economic growth in developed economies that make up the Organization for Economic Cooperation and Development should increase from 1.2% in 2010 to 2.7% in 2011.

      The EIA said that residential heating oil prices will average $2.78 a gallon this winter, up 1 cent from the previous forecast.

      Worldoils Notes : World Oil, Gas and Offshore
    • What do OPEC and OPEC countries have to say?

      It is very early to make predictions, but I guess, the experts do sufficient research to be able to forecast.

      In a fast changing world, the parameters of demand change too fast, making the forecast results vary greatly.

      Worth a wait and watch. :whistling:

      Post was edited 1 time, last by Gregory ().

    • Oil prices may average close to US$79 this year, above previous forecasts

      U.S. crude oil is expected to rise to an average of US$78.91 a barrel in 2010, a Reuters poll found on Thursday, and analysts said medium-term economic improvement could spur investment in oil, sending prices higher. The poll of 32 analysts showed a rising consensus forecast for the 11th consecutive month. In April of last year, the average forecast for 2010 was US$65.95 a barrel. In February analysts forecast a year-end price of US$77.70. "As demand for gasoline rises this summer, and investors see oil as an attractive medium-term economic macro play, crude prices could move higher than we are currently forecasting," said Jason Schenker at Prestige Economics in Austin, Tex. "What we suspect is that the upper end of the price band has moved to an US$85 comfort zone, but that could mean short-term blips to US$90," said Lawrence Eagles at JPMorgan. "Later in the year, our price target of US$90 means intraday blips to US$100 are not impossible."

      This is an extract from the Financial Post :


      Oil & Gas Directory

      Post was edited 1 time, last by Heng Lee ().

    • Simple analysis of S & R level over the past few years give some clues as to key levels. A strong support lies at $50 per barrel. If prices should falter this will be one level where prices could stabilize. Another resistance is at $100 dollars. Prices may have a difficult time breaking through to the triple digits. Once it does however, this will become a new floor of support.
    • Besides supply and demand another angle of looking at it would the value of USD, which is what oil prices at.
      If the debt crisis continues in Europe, EURO will go south. Then where will the money go? Chasing USD and those currencies in Asia.

      You need to have your own gut of making your own forecast and be responsible for it should you make any investment based on this.
    • The system abusing the U.S.

      You say that the average gas price is $2.98 a gallon in the U.S. But yet here the average price is $3.25 a gallon. And that's unleaded. The U.S. needs to get their heads out of the asses before we start rioting. Give it another year or maybe two at most. No jobs, shitty pay, and cost of everything is going way up! 
    • Gas Prices expected to be $5 soon or will it fall below $4?

      NYPOST :

      Many newspapers are predicting gas prices to hit $5 in USA this summer.

      "Goldman Sachs' crystal ball is proclaiming that oil will soon soar to $135 a barrel, and likely have service stations jacking up fuel prices to $5 a gallon in New York just like the summer of 2008 that preceded the recession.
      Read more:…pC8X63YYKhI#ixzz1Nkj5fKJ4

      "Memorial Day weekend typically ushers in summer gas price increases along with the summer vacation season. Not so this year. Gas prices fell 15 cents last week, bringing the average for a gallon of unleaded to $3.85. Joseph Petrowski, chief executive of Framingham-based Cumberland Farms Gulf Oil Group, said he expects prices to fall further, dropping below $3.50 a gallon by July 4. Petrowski recently spoke with reporter Megan Woolhouse.

      Read more :…ecent_drop_in_gas_prices/

      Decision is yours.
    • In high priced oil we trust!

      As a pipefitter in the Oil patch, I want the price of oil to skyrocket so like that I can buy myself this crazy lifted truck that my buddy bought and post on his Safebook Industrial page. =] In Alberta, in high priced oil we trust. :thumbsup: Make it a $150/barrel!!!

      Post was edited 2 times, last by Safebuddy ().

    • It's evident that supply and demand have nothing to do with the current trending of gas vs. oil prices. Speculation and market manipulation have taken over. The whole system is corrupt and his bankrupting the middle class. Last time oil was $82/barrel, gas was $2.34/gallon... So why is it $3.59? Exactly. Bring back the horse and they will ride it! F- OPEC. They will need to start using those towels on their heads to soak up all the oil that's going to be flooding their countries very soon. LMFAO