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Tuesday, June 12, 2012

Bold Prediction -- The Bakken, North Dakota, USA

30-second sound bite:
  • Saudi Arabia: 10 million bopd
  • Russia: 10 million bopd
  • US: 9 million bopd (or 10 million bopd)
  • Canada: 3 million bopd
  • Bakken: 0.6 million bopd
If the price of oil goes to $60 by the end of the year and stays there for at least six months, at the end of six months (into next year):
  • Saudi Arabia: 9 million bopd
  • Russia: 9 million bopd
  • US: 9 million bopd
  • Canada: 0 million bopd
  • Bakken: 0.7 million bopd
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3 comments:

  1. AnonymousJune 12, 2012 at 1:36 PM

    Do you really think it will go down to $60? As long as no middle east situations cause and effect. Jeremy

    ReplyDelete
    Replies
    1. Bruce OksolJune 12, 2012 at 1:46 PM

      A "flash crash" is always possible. Didn't oil drop to the mid-40's in recent past? I forget, but "they" talk about oil's pullback to $38 or something like that in recent past.

      I have learned to make no predictions about price of oil in the short term (over the next 12 months). It's long term trend is up.

      Delete
  2. AnonymousJune 13, 2012 at 7:25 AM

    Interesting. "flash crash" and "they". I understand, thanks again for the info and clairification. Go OKC! (from a lakers fan) Jeremy

    ReplyDelete

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