Tuesday, January 8, 2013

Crude Oil Pricing Projections -- US Department of Energy

US Dept of Energy oil forecast for 2013, data points:
  • global consumption will climb to a record
And one could stop right there, but let's continue:

2012:
  • 2012: WTI average: $94.12
2013:
  • 2013est: WTI average -- $89.54/bbl (up 1.3 percent from last month's forecast)
  • Brent, 2013est: $105.17/bbl average (up 1.4 percent from last month's forecast)
2014: 
  • 2014est: WTI to $91/bbl
  • 2014est: Brent will slip to $99.25 
Brent-WTI spread 
  • 2013est: Brent-WTI spread -- $16/bbl (rounded)
  • 2014est: Brent-WTI spread -- $8/bbl (rounded)
Global demand:
  • 2012: 89.17 million bbls
  • 2013est: 90.11 million bbls
  • 2014est:  91.46 million bbls
Note: to the best of my knowledge, these numbers are correct; the article was a bit confusing due to so many projections from month to month. At least confusing to me. Recommend: check out the linked article. 
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2 comments:

  1. AnonymousJanuary 8, 2013 at 10:33 PM

    Several companies have mentioned Nevada from time to time, but leasing is usually as far as they get. Maybe a well. Not much more active than Cass County, ND.



    Key words. Mining. Gallons.

    and "has not yet adopted an official position on fracking, but it generally opposes"

    The ignorance and choice of sources is monumental.

    If you want an expert on fracing, ask someone from Arizona, a state that has no fracing. The obvious choice.

    http://www.lvrj.com/news/oil-gas-search-fracking-comes-to-nevada-186108131.html

    anon 1

    ReplyDelete
    Replies
    1. Bruce OksolJanuary 9, 2013 at 7:15 AM

      ".... has not yet adopted an official position on fracking, but it generally opposes."

      Fortunately, his quote was almost near the end of the article. That opinion is becoming less and less relevant.

      However, having said that, I have not yet adopted an official position on gambling, but I'm generally opposed."

      Delete

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