Old Project Avalon Forum (ARCHIVE) - View Single Post - $75 Oil

Knightbk · 10-16-2008, 11:22 PM

Back in June I was visiting with some friends from Calgary that work for some oil companies and they were all saying that their internal revenue targets put oil at $60-70 a barrel by November of this year.

I was a little surprised that at that time when Oil was skyrocketing that they would make that prediction, but it turned out they were right on target so far.

I expect that Oil is on its way down to $50.

At that point what happens will depend on OPEC, but if they raise it artificially, demand destruction will keep demand down and the price will float at that point for a while.

10-16-2008, 11:22 PM	#20
Knightbk Avalon Senior Member Join Date: Oct 2008 Posts: 73	Re: $75 Oil - Lindsey Williams anyone? Back in June I was visiting with some friends from Calgary that work for some oil companies and they were all saying that their internal revenue targets put oil at $60-70 a barrel by November of this year. I was a little surprised that at that time when Oil was skyrocketing that they would make that prediction, but it turned out they were right on target so far. I expect that Oil is on its way down to $50. At that point what happens will depend on OPEC, but if they raise it artificially, demand destruction will keep demand down and the price will float at that point for a while.