Crude Oil is Dead

Make sure that your tin-foil hat is strapped on tight.

 

I think some people here have invested in "Dubai real estates" and now they are not willing to accept the "Bitter truth"

Majority of Dubai developers and investors are from USA and Europe. By helping develop Dubai real estates, USA and Europe are digging their own grave with their own hands.

Dubai is a "Hub for illegal activities and terrorist finance"

My sincere request to Worldwide people. DO NOT help terrorists by investing in Dubai.

 

Haha. You are dumb.

 

Wow. Insanely dumb. How much was crude from 98 to 01 when they were planning and then executing 911?

While I think oil prices do have a bit more to fall, and am now convinced of it because stock turd says it will surge, the price will make new highs in the next 5 years

 

Goldman Sachs Expects Crude to Fall to $30 Early Next Year

Dec. 12 (Bloomberg) -- Goldman Sachs Group Inc. cut its forecast for oil prices in the first quarter by half to $30 a barrel as the global economic slowdown curbs consumption.

Crude demand will fall by 1.7 million barrels a day in 2009, analysts Jeffrey Currie and Allison Nathan said in a note dated yesterday. Goldman previously expected West Texas Intermediate, the U.S. benchmark oil, to average $62 in the first quarter.

The worldwide economic decline has reduced consumer spending and weakened demand for fuel. Demand growth in China and other non-member states of the Paris-based Organization for Economic Cooperation and Development is “on the cusp of a sharp deceleration,” the analysts said.

Crude has fallen for five straight months since trading at a record $147.27 a barrel, as countries including the U.S., Japan and Germany have entered recessions. Goldman Sachs forecast in July that oil would recover to $149 by the end of this year because consumer demand was “restrained, but not destroyed.”

The continuing slump in oil prices spurred the Organization of Petroleum Exporting Countries to cut output for the first time in two years when it met in October.

OPEC will need to lower production by an additional 2 million barrels a day next year, combined with a 600,000-barrel- a-day reduction by non-OPEC countries, to “rebalance” the oil market, Goldman Sachs said. The group next meets Dec. 17 in Oran, Algeria, and will probably agree on further cuts, according to OPEC oil ministers including Algeria’s Chakib Khelil, Qatar’s Abdullah bin Hamad al-Attiyah and Venezuela’s Rafael Ramirez.

North Sea Brent

Goldman Sachs expects U.S. oil futures to average $45 a barrel next year, down from $80 previously. In May, the bank forecast an average price of $148 a barrel for 2009. North Sea Brent crude will average $28.50 in the first quarter, it said.

The International Energy Agency yesterday forecast global crude consumption next year of 86.3 million barrels a day.

Oil for January delivery traded at $45.06 a barrel, down 6.1 percent, in electronic trading on the New York Mercantile Exchange at 12:20 p.m. London time.


http://www.bloomberg.com/apps/news?pid=20602099&sid=aQjCBWe8uEFI&refer=energy

 

very funny.

buy and store as much as oil as you can.

oil demand is inelastic.

 

The Dead should be buried and not stored.

REST IN PEACE CRUDE OIL

 

A New Zealand passenger plane has completed 2 hours test flight partly powered by vegetable Oil.

 

You got it.
Sick moves is right - even using spreads.
Happy New trading Year.

 

What did USO do Wed....I missed it



You're so pathetic