What do you thing the bottom price of oil will be next year?

it has already went down to as low as $30 per barrelWhat do you thing the bottom price of oil will be next year?
I think the real question is how high oil will go next year.What do you thing the bottom price of oil will be next year?
When oil was 80 I was predicting it would go back to $25-40. Hardly anyone thought it would happen then, and especially not when it was at $147. Commodity prices tend to revert to the mean. The mean since oil started trading in the futures market in 1983 is about 30. The mode and median are quite a bit lower. OPEC has always cheated on their quotas and probably always will. And they cant predict demand. We still have large supplies of crude on hand, excluding SPR. I think unemployment will go well above 7 percent and I think the dollar will remain pretty strong. I think oil is going to at least $18.
Personally I think it is probably about as low as it can go. The arabs will cut production again, the reserve of oil will go down, and the prices will go up. I think that is the direction of oil next year, up.
Wait until OPEC reduce production and watch the rise. With the revenue taking such a large proportion in taxes it will remain expensive at the pumps.
Many analysts are predicting oil could fall as low as $US25 per barrel.





Happy KISSmas everyone!
I think it will start to level of at around $40 a barrel and stay there until the demand increases.


Ja.
$24/Barrel
no lower than $20/barrel. I'd be happy if it were less, though.