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Kodiak Oil & Gas Corp. Message Board

  • nsleesman nsleesman Nov 7, 2012 12:03 PM Flag

    What happend to Nat Gas will happen to Oil

    Over supply and lower demand from a weak economy will force crude prices lower on a long term bases. The current oil boom will be a mirror image of the natural gas boom. And their won't be any help from Washington DC.

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    • please see Bloomberg weekly events Every Wed "oil inventories" Today inventory was down What happens w/ winter coming???

    • Winter coming Inventories down Refineries back online Thankyou to the ones that sold me there shares today @ $8.87

      Sentiment: Strong Buy

    • Not necessarily....
      There is weak demand for your posts here...but they are still plenty.

      Sentiment: Buy

      • 2 Replies to punchulater
      • Wow....

        ....so the EIA projects the average WTI oil price to be only about $88 in 2013, instead of $92-$94 range?

        Is that anything to worry about?

        From the EIA:

        "U.S. Production Pegged at Two-Decade High in 2013

        U.S. benchmark crude oil prices in 2013 are expected to be almost 5% lower than previously forecast amid a sluggish economy and domestic production that's headed for a two-decade high, the Energy Information Administration said in a report.

        West Texas Intermediate spot market crude is projected to average $88.29 a barrel next year, down from $92.63 in an October forecast and down 6.6% from an estimated $94.51 this year, The EIA said in its monthly Short-Term Energy Outlook released November 6.

        WTI crude prices are on track to decline for the second year in a row in 2013, based on EIA figures, reflecting static gasoline demand and a drilling boom in the shale regions of North Dakota and Texas. U.S. oil production is projected to average 6.85 million barrels a day next year, up 8.2% from 2012 and the highest since 1993.

        The EIA held its 2013 estimate for Brent spot crude unchanged at $103.38 a barrel, down 7.4% from $111.61 in 2012. Brent crude's average premium to WTI is expected to narrow to about $11 a barrel by the end of 2013 from $22 last month."

        Sentiment: Strong Buy

      • It's easier to export oil... then Nat Gas
        That will pick up some of the slack,,,,,, Other countries need oil no matter what the econ is doing

 

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