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Thread: December 29, 2017 WTI Crude Oil Price Predictions

  1. #1
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    Default December 29, 2017 WTI Crude Oil Price Predictions

    Happy New Year to all. Congratulations to 2016 winner KC whose $54 guess was only 28 cents above the actual WTI closing price last Friday.

    Starting a new thread for 2017. Rules are the same as last year. Guess the price of a barrel of West Texas Intermediate crude oil quoted in US dollars on the last trading day of 2017 which is Friday, December 29.

    To be counted, a specific price is needed, not a price range, and be posted before March 31.

    To ensure a level playing field, posters who guess early on can revise their guess (if they want) until the end of March.

    My guess for the end of December 2017 closing price is $61 US per barrel.

  2. #2
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    I never played in 2016... must have missed the thread.

    2017 will be $58.73

  3. #3
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    $65

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    My guess is $59 US by December 29.
    "Talk minus action equals zero." - Joe Keithley, D. O. A.

  5. #5

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    I'll go for $48.92.
    I am in no way entitled to your opinion...

  6. #6
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    $55.20
    Nisi Dominus Frustra

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    Quote Originally Posted by Kitlope View Post
    I never played in 2016... must have missed the thread.

    2017 will be $58.73
    Actually you did. I included your guess of $45 (see first post of 2016 thread).

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    $69.69

  9. #9
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    i "doubled down" last year at $78.50 so might as well try the same for the 3rd year running. beats doing a google search and averaging the prognosticators... they rely too much on the status quo and i don't think 2017 is going to be a status quo year.
    "If you did not want much, there was plenty." Harper Lee

  10. #10
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    $62

  11. #11
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    $60
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    Oil hits 2-year high as Saudi graft crackdown raises prospect of production cuts

    http://www.cbc.ca/news/business/saud...-oil-1.4389010
    “You have to dream big. If we want to be a little city, we dream small. If we want to be a big city, we dream big, and this is a big idea.” - Mayor Stephen Mandel, 02/22/2012

  13. #13

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    bump





    Oil up at year end, U.S. crude hits highest since mid-2015 - The Globe and Mail

    https://www.theglobeandmail.com/glob...ticle37454075/



    Why Is Canadian Oil So Cheap?

    By Irina Slav - Dec 12, 2017, 9:00 AM CST

    “Western Canadian heavy crude’s price discount to WTI widened to the most in three years, at US$23 for the January contract and US$27 for the December contract, after Enbridge announced a new rationing of space in parts of its Mainline network, which is used to carry most of the crude Canada exports to the United States.

    The rationing was prompted by unplanned outages in the network and will cause the accumulation of crude oil at storage hubs across Canada’s top oil producer, Alberta. Enbridge’s announcement for an apportionment on parts of the Mainline network is the second in as many months, sparking worry about a glut.

    This accumulation comes on the back of the two-week suspension of TransCanada’s Keystone pipeline following a leak, which also caused a build of crude oil inventories in Alberta, pressuring prices. What’s more, Keystone, which has a capacity of almost 600,000 bpd, is currently running at 20 percent lower pressure, while environmental regulators investigate the leak, which totaled 5,000 gallons of crude.

    Meanwhile, WTI is also enjoying a deeper discount to Brent, which yesterday soared above US$65 a barrel for the first time since 2015, after ...”

    https://oilprice.com/Energy/Oil-Pric...-So-Cheap.html
    Last edited by KC; 29-12-2017 at 08:44 AM.

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    Looking good for SDM today: WTI $60.17

    https://oilprice.com

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    The WCS price is over $40 US too.
    "Talk minus action equals zero." - Joe Keithley, D. O. A.

  16. #16
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    All the trades have been tallied and the 2017 WTI closing price is $60.42 US per barrel.

    https://oilprice.com/

    Your guesses were as follows:
    spudly: $48.92
    howie: $55.20
    kitlope: $58.73
    The_Cat: $59
    SDM: $60
    East Mc: $61
    Marcel Petrin: $62
    Paul Turnbull: $65
    Hilman: $69.69
    kcantor: $78.50

    The winner of the C2E WTI oil price prognosticator of 2017 is Sonic Death Monkey, who was a mere 8 cents per barrel closer than yours truly. Take a virtual bow SDM. A surprising number of us were fairly close to the mark in our guesses.

    I will start a new thread for the WTI price for the end of the year 2018 on New Year's Day. So keep researching and hold onto your guesses until then. Perhaps a few more C2Eers can be enticed to match their skills against those who participated in 2017.
    Last edited by East McCauley; 29-12-2017 at 04:28 PM. Reason: missed someone

  17. #17

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    Maybe throw in natural gas, gold and bitcoin

  18. #18

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    How about the Dow Jones?
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    How 'bout my wallet?
    Nisi Dominus Frustra

  20. #20

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    That is easy to predict...




    ...empty
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  22. #22
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    At over $60 WTI who would have thought? Oil prices haven't been this high since March 2015.
    Mom said I should not talk to cretins!

  23. #23

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    $60 is a solid number...and there's some upward momentum (as of this post it is $61.89), if it can get to and have support at $65, that would help our province's bottom line a lot.

    I think Joe Ceci and his number crunchers are using $55 to run Alberta's budget.

    Unfortunately, upon second look, the WCS is really languishing...
    Last edited by B.ike; 04-01-2018 at 03:33 PM.

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