I agree the price of a barrel is important to oil
Post# of 39368
Posted On: 11/06/2014 7:15:26 AM
I agree the price of a barrel is important to oil investments, asset deals and revenue streams.
But so much discussion of what is driving the oil price is kind of out of place here when the Treaty business fundamentals are not established yet.
Practical experience of 30 years in the international oil industry has taught me that no-one, even the most experienced oil price experts, knows what the future oil price is going to be and more importantly business decisions should not be taken which only work if the oil price turns out much higher than it is at the time the decision is taken.
An indication of the markets opinion on oil price can be taken from Nynex oil price futures which indicate a long run $80/bbl with a range of $70-90/bbl. See Crude Oil Futures Quotes . Although I expect that oil price futures markets are in turmoil given the recent price fall.
Cheers
Belize Oilwatch
Belize City, Belize CA
But so much discussion of what is driving the oil price is kind of out of place here when the Treaty business fundamentals are not established yet.
Practical experience of 30 years in the international oil industry has taught me that no-one, even the most experienced oil price experts, knows what the future oil price is going to be and more importantly business decisions should not be taken which only work if the oil price turns out much higher than it is at the time the decision is taken.
An indication of the markets opinion on oil price can be taken from Nynex oil price futures which indicate a long run $80/bbl with a range of $70-90/bbl. See Crude Oil Futures Quotes . Although I expect that oil price futures markets are in turmoil given the recent price fall.
Cheers
Belize Oilwatch
Belize City, Belize CA
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