Goldman Sachs: Oil price will fall to $70 US a barrel in 2015 - GoFuckYourself.com

wehateporn · 10-28-2014, 04:31 AM

Oil price will fall to $70 US a barrel in 2015, Goldman Sachs says - Business - CBC News

One of the world's leading investment banks says the benchmark price of North American oil is going to fall even further, to $70 US a barrel by next spring.

Investment bank Goldman Sachs slashed its forecast late Sunday night for both West Texas Intermediate (known as WTI) and Brent crude ? the two most common types of oil used and sold in North America and Europe.

Goldman Sachs says WTI will go for $75 a barrel in the first three months of 2015. Brent, meanwhile, will change hands at $85 a barrel. Both forecasts are down $15 from what the bank was last expecting. And both are forecast to slip even lower in the second quarter ? historically a seasonally low time for oil prices ? before rebounding a little in the summer of 2015.

If the prediction on WTI proves correct, it will be the lowest price for North American oil since 2010, when crude was on its way higher after cratering during the recession of 2008 and 2009.

Currently, WTI is trading just below $80 US. That's down from more than $100 a barrel as recently as four months ago.

The main reason the bank cited for its call is simple supply and demand ? there's just more oil being produced now than the world needs, the bank says.

A boom in shale oil and gas in North America this year and last has drastically increased the amount of oil in circulation. This month, it's expected that the U.S. will pump out more crude oil than Saudi Arabia does ? the first time that's been the case since the early 1970s.

Continued Oil price will fall to $70 US a barrel in 2015, Goldman Sachs says - Business - CBC News

Barry-xlovecam · 10-28-2014, 05:03 AM

That is a very positive thing for most of the world's economy.

seeandsee · 10-28-2014, 05:07 AM

in my country price can't fall

JFK · 10-28-2014, 05:08 AM

Quote:

Originally Posted by Barry-xlovecam

That is a very positive thing for most of the world's economy.

Seems like the gas stations are keeping the prices up, except for a few blips. But, soon as there's even a hint of prices rising, they jack the prices up instantly

trevesty · 10-28-2014, 05:22 AM

Quote:

Originally Posted by JFK

Seems like the gas stations are keeping the prices up, except for a few blips. But, soon as there's even a hint of prices rising, they jack the prices up instantly

Most gas stations don't make much money if any at all from gas. Their money is made from the huge mark up on snacks, etc.

Barry-xlovecam · 10-28-2014, 05:41 AM

Quote:

Originally Posted by JFK

Seems like the gas stations are keeping the prices up, except for a few blips. But, soon as there's even a hint of prices rising, they jack the prices up instantly

Gasoline prices have come down 25% in the USA in the last 5 weeks. We are having mid-term elections so some of this may be political here. We may be looking at $0.67/liter $2.59/US Gal USD retail gasoline mid winter. Hopefully, this does not encourage new consumption in the USA with large vehicle and truck sales.

Disclaimer: I own a 8 liter V10 3/4 ton extended cab pick up truck that I dont drive much

djroof · 10-28-2014, 06:05 AM

I hope this price would be for the whole world...

bronco67 · 10-28-2014, 06:13 AM

So some rich motherfuckers will make few less million...boo fucking hoo.

The really bad thing about lower oil and gas prices is that it will take the impetus off transitioning to new energy sources.

Rochard · 10-28-2014, 07:02 AM

I really believe this is all a plan to fuck Russia.

CAHEK · 10-28-2014, 07:27 AM

Quote:

Originally Posted by Rochard

I really believe this is all a plan to fuck Russia.

yes, but it will take 1 year or more

Barry-xlovecam · 10-28-2014, 08:00 AM

Quote:

Originally Posted by Rochard

I really believe this is all a plan to fuck Russia.

Russia's economic damage is collateral damage I think.
Oil prices have been kept artificially high.
Oil's low value may be as low as $40 to $45 a barrel ...
So, we are talking $2 or less for a gallon of gasoline in the USA next year possibly.

Barry-xlovecam · 10-28-2014, 12:39 PM

I just came back, was out for a bit -- gasoline is down to 2.91/US gal $0.71/liter

PAR · 10-28-2014, 12:41 PM

Really all depends on how cold and long this winter gets...

onwebcam · 10-28-2014, 01:25 PM

Translation: Sell now so we can buy it cheap and increase the price again.

lezinterracial · 10-28-2014, 01:29 PM

I don't really believe much that Goldman says. I think they want to sway public opinion so they can buy up more oil companies.

Like a big poker game.

Shedevils · 10-28-2014, 01:36 PM

Quote:

Originally Posted by Rochard

I really believe this is all a plan to fuck Russia.

It will fuck Canada as well, as this is below profitability for the oil sands projects Mr Harper has going.

huey · 10-28-2014, 06:53 PM

Should be a boom for retailers this x-mas. Lots of extra spending money will be out there.

10-28-2014, 04:31 AM	#1
wehateporn Promoting Debate on GFY Industry Role: Join Date: Apr 2007 Posts: 27,173	Goldman Sachs: Oil price will fall to $70 US a barrel in 2015 Oil price will fall to $70 US a barrel in 2015, Goldman Sachs says - Business - CBC News One of the world's leading investment banks says the benchmark price of North American oil is going to fall even further, to $70 US a barrel by next spring. Investment bank Goldman Sachs slashed its forecast late Sunday night for both West Texas Intermediate (known as WTI) and Brent crude ? the two most common types of oil used and sold in North America and Europe. Goldman Sachs says WTI will go for $75 a barrel in the first three months of 2015. Brent, meanwhile, will change hands at $85 a barrel. Both forecasts are down $15 from what the bank was last expecting. And both are forecast to slip even lower in the second quarter ? historically a seasonally low time for oil prices ? before rebounding a little in the summer of 2015. If the prediction on WTI proves correct, it will be the lowest price for North American oil since 2010, when crude was on its way higher after cratering during the recession of 2008 and 2009. Currently, WTI is trading just below $80 US. That's down from more than $100 a barrel as recently as four months ago. The main reason the bank cited for its call is simple supply and demand ? there's just more oil being produced now than the world needs, the bank says. A boom in shale oil and gas in North America this year and last has drastically increased the amount of oil in circulation. This month, it's expected that the U.S. will pump out more crude oil than Saudi Arabia does ? the first time that's been the case since the early 1970s. Continued Oil price will fall to $70 US a barrel in 2015, Goldman Sachs says - Business - CBC News __________________ Sexy Girls Teasing

10-28-2014, 05:07 AM	#3
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	in my country price can't fall __________________ BUY MY SIG - 50$/Year Contact here

10-28-2014, 06:13 AM	#8
bronco67 Too lazy to set a custom title Join Date: Dec 2006 Posts: 29,035	So some rich motherfuckers will make few less million...boo fucking hoo. The really bad thing about lower oil and gas prices is that it will take the impetus off transitioning to new energy sources. __________________ Last edited by bronco67; 10-28-2014 at 06:14 AM..

10-28-2014, 07:02 AM	#9
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 73,000	I really believe this is all a plan to fuck Russia. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

10-28-2014, 01:25 PM	#14
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,653	Translation: Sell now so we can buy it cheap and increase the price again. __________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete.

10-28-2014, 05:03 AM	#2
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	That is a very positive thing for most of the world's economy.

10-28-2014, 06:05 AM	#7
djroof JuicyDevils.gr Owner Industry Role: Join Date: Jan 2004 Location: Greece Posts: 25,374	I hope this price would be for the whole world...

10-28-2014, 12:39 PM	#12
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	I just came back, was out for a bit -- gasoline is down to 2.91/US gal $0.71/liter

10-28-2014, 12:41 PM	#13
PAR Confirmed User Industry Role: Join Date: May 2005 Posts: 1,836	Really all depends on how cold and long this winter gets...

10-28-2014, 01:29 PM	#15
lezinterracial Confirmed User Industry Role: Join Date: Jul 2012 Posts: 3,065	I don't really believe much that Goldman says. I think they want to sway public opinion so they can buy up more oil companies. Like a big poker game. __________________ Live Sex Shows

10-28-2014, 06:53 PM	#17
huey Confirmed User Join Date: Apr 2003 Location: vancouver Posts: 3,662	Should be a boom for retailers this x-mas. Lots of extra spending money will be out there. __________________ opinions are like assholes................. "They aren't after me, they are AFTER YOU! Im just in their way" -D.J. Trump