First, let me give a collection of the available news from various sources reproduced below :
1. News : " Oman has reduced its assumed oil price for the 2009 budget by $10 to $45 a barrel following a plunge of around $100 in international crude prices since July."
Please read : arabianbusiness.com/540236-oman-cuts-2009-oil-price-forecast
2. News : "Goldman Sachs' energy equity research team, which predicted earlier this year that crude oil could spike as high as $200 a barrel, slashed its forecast for 2009 on Friday, by $30, to just $45, as demand deteriorates."
Please read : arabianbusiness.com/540896-gol…s-2009-oil-price-forecast
3. News : "The annual average WTI price is now projected to be $100 per barrel in 2008 and $51 in 2009. "
Please read : <link removed>
As you can see nobody knows! We are on our own. But we can have some food for thought. Our own points...
Let me enumerate a few which collectively could matter our prediction.
1. Credit crunch - new projects in trouble.New drilling rigs and platforms.
2. Low oil prices - Again new projects will have trouble. Oil exporting countries are now worried about recession.
3. Opec decisions soon coming. OPEC has pressure from the member countries.
4. Reduced spending due to growing unemployment.
5. Alternative energies are not taking off as fast as they should.
6. Oil transportation (ships/pipelines) cost factors - aggravated by the piracy problems.
7. New explorations and oil finds.
Any more inputs from you guys there?
1. News : " Oman has reduced its assumed oil price for the 2009 budget by $10 to $45 a barrel following a plunge of around $100 in international crude prices since July."
Please read : arabianbusiness.com/540236-oman-cuts-2009-oil-price-forecast
2. News : "Goldman Sachs' energy equity research team, which predicted earlier this year that crude oil could spike as high as $200 a barrel, slashed its forecast for 2009 on Friday, by $30, to just $45, as demand deteriorates."
Please read : arabianbusiness.com/540896-gol…s-2009-oil-price-forecast
3. News : "The annual average WTI price is now projected to be $100 per barrel in 2008 and $51 in 2009. "
Please read : <link removed>
As you can see nobody knows! We are on our own. But we can have some food for thought. Our own points...
Let me enumerate a few which collectively could matter our prediction.
1. Credit crunch - new projects in trouble.New drilling rigs and platforms.
2. Low oil prices - Again new projects will have trouble. Oil exporting countries are now worried about recession.
3. Opec decisions soon coming. OPEC has pressure from the member countries.
4. Reduced spending due to growing unemployment.
5. Alternative energies are not taking off as fast as they should.
6. Oil transportation (ships/pipelines) cost factors - aggravated by the piracy problems.
7. New explorations and oil finds.
Any more inputs from you guys there?