higher or lower

blinko

higher or lower oil prices ?? i saw markets jitter yesterday as pieces of metal appeared in iran due to fear of an air strike, so i was just wondering what peoples inclination of oil prices are going to be like in the future.

i think in the short term they might go lower as stability reaches the middle east but i also see india and chinas economies demanding more inc the states so im thinking they might rise in the long term

deemy2004

I think oil prices will drift lower ... $48 is too high and will bring new production on stream

The most probable range for oil over the next 12 months will be $35 to $45, so still very volatile.

As for the long-run.... it all depends on how the economies perform, if they continue to grow then the oil price will rise, if theres a recession i.e. china goes bust etc... Then oil could be back below $30.

Though I think the days of $15 are long gone.

cheerfulcat

Hi, blinko,

According to one of the biggest Texas oilmen ( T Boone Pickens ), " It'll be $60 before it's $40 ".

HTH

Cheerfulcat