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Gazprom predicts oil will reach $250
Posted: 10 Jun 2008, 13:34
by Erik
Speaking at a strategy presentation in Deauville, Alexey Miller, Gazprom chief executive, said: ?Today we witness a very great change for hydrocarbons, the level is very high and we think it [the price of oil] will reach $250 a barrel.?
A company spokesman specified that Gazprom believed that level would be hit in 2009.
The prediction is substantially higher than those being made by analysts, who see oil prices in 2009 ranging between $100 and $200 a barrel.
http://www.ft.com/cms/s/0/23928598-36c1 ... fd2ac.html
Posted: 10 Jun 2008, 13:52
by adam2
Are they right or not?
poll or competion needed perhaps?
Posted: 10 Jun 2008, 14:49
by emordnilap
adam2 wrote:Are they right or not?
poll or competion needed perhaps?
Sort-of-but-not-quite started
here.
WolfattheDoor wrote:The first post in this topic was at 14:03 on 12 September at $78.93. As we are beginning to close in on that anniversary, I wonder what the price will be on the ticker at 14:03 on 12 September 2008. Maybe we should have another contest.
I'll go for $110 (an eventual little bit of a fall back in the next three months)
Posted: 10 Jun 2008, 15:01
by clv101
Good article. The message is that it's all about the fundamentals, not a single mention of speculation.
Posted: 10 Jun 2008, 15:10
by emordnilap
Francisco Blanch, head of commodities research at Merrill Lynch, said on Tuesday he was raising his forecast for WTI prices in the second half of the year to $121.50, based ?a combination of lower than expected supplies and unrestricted demand. Non-OPEC output is really struggling to expand.?
Raising? Cock-eyed.
Posted: 10 Jun 2008, 15:17
by Mitch
Ah, perhaps the "speculation" is only now begining? If enough of the oil "big knobs" start yelling loud and clear that TS has indeed hit the fan right about now, they should see their 3 or 4 hundred a barrel a lot sooner than if they just shut up? Not much more left in the ground - let's get the price, (profits), up as soon as possible?
Posted: 10 Jun 2008, 17:23
by Vortex
Mitch wrote:Ah, perhaps the "speculation" is only now begining? If enough of the oil "big knobs" start yelling loud and clear that TS has indeed hit the fan right about now, they should see their 3 or 4 hundred a barrel a lot sooner than if they just shut up? Not much more left in the ground - let's get the price, (profits), up as soon as possible?
Yep.
If my stocks of widgets are running out, I simply shout that a shortage is coming, and throttle back my supply.
The price will rise, my stocks will last longer, and I will make more money for less effort each year.
Posted: 10 Jun 2008, 20:49
by Totally_Baffled
Vortex wrote:Mitch wrote:Ah, perhaps the "speculation" is only now begining? If enough of the oil "big knobs" start yelling loud and clear that TS has indeed hit the fan right about now, they should see their 3 or 4 hundred a barrel a lot sooner than if they just shut up? Not much more left in the ground - let's get the price, (profits), up as soon as possible?
Yep.
If my stocks of widgets are running out, I simply shout that a shortage is coming, and throttle back my supply.
The price will rise, my stocks will last longer, and I will make more money for less effort each year.
What if the widgets(oil) where an essential component of commodities you needed to import(food) because you couldnt produce your own?
You hoarding would push up the price of food as you are charging more for your widgets!
The ME is already having troubles with food inflation ......???
I think the economics text books call this cost push inflation...
Re: Gazprom predicts oil will reach $250
Posted: 11 Jun 2008, 05:21
by kenneal - lagger
Speaking at a strategy presentation in Deauville, Alexey Miller, Gazprom chief executive, said: ?Today we witness a very great change for hydrocarbons, the level is very high and we think it [the price of oil] will reach $250 a barrel.?
"And if it doesn't, ve haf ze power to make it do so."
Posted: 11 Jun 2008, 07:29
by UndercoverElephant
Posted: 11 Jun 2008, 10:47
by tattercoats
Ah. That's why the Indy was sold out all over the village today.
Well, good. Ta for the link; I've read it online. Better that the folk who don't usually buy the Indy have a chance to.
Re: Gazprom predicts oil will reach $250
Posted: 11 Jun 2008, 11:56
by skeptik
kenneal wrote:Speaking at a strategy presentation in Deauville, Alexey Miller, Gazprom chief executive, said: ?Today we witness a very great change for hydrocarbons, the level is very high and we think it [the price of oil] will reach $250 a barrel.?
"And if it doesn't, ve haf ze power to make it do so."
I think thats called 'talking your book'. The price can only go so high before the global economy collapses - then the price will collapse back down, before starting another cycle of recovery, price rise and collapse.
I think you need to work on that Russian accent, kenneal. Sounds a bit German to me.
Posted: 11 Jun 2008, 12:42
by snow hope
I went out and bought the paper due to the headline.
I showed it around the office........
Posted: 11 Jun 2008, 12:44
by Vortex
snow hope wrote:I went out and bought the paper due to the headline.
I showed it around the office........
Was the Special Report inside any good?
I don't think it's been posted on the web version.
Posted: 11 Jun 2008, 13:00
by snow hope
Just page 2 - inside page - nothing much new for us, but a lot of home truths for Joe Bloggs reading it. No special report......
A couple of articles on interest rate rises and house repos elsewhere in the paper. Although I haven't read them yet, these may make it worth going out to get.....
