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With the price of oil nearing $70 per barrel, what direction do you predict the price is going to head in the near future?

Danny 2007/06/20 21:17:50
Prices will go up to as much as $80 / barrel
Prices will drop to as much as $60 / barrel
Prices will soar well above $80 / barrel
Prices will fall well below 60$ / barrel
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A dispute between the West and Iran over its uranium enrichment project remains a source of worry. The United Nations again tried to urge Iran to cease its nuclear enrichment programme on Thursday.

Also, the move by Palestinian Authority President Mahmoud Abbas to dismiss the Hamas-led coalition government and issue a state of emergency on the same day raised concerns over instability in the region.

And a drop in output at US refineries raised concerns that old refineries would not be able to meet demand exactly at the time when consumers were using more petrol over the summer holiday period.

Separately, the oil producer's group, Opec, maintained its forecast for global oil consumption for the year.

"Market fundamentals do not indicate that additional supply is necessary at this time," said Opec in its monthly report.

The group expects a 1.5% increase in world oil demand to 85.6 million barrels per day in 2007.

Thursday's climb came a day after data from the US department of energy showed that US petrol stocks were flat in the week ending 8 June - well off the average typical of this time of year.
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  • Libertarian Right 2008/05/01 17:57:56
  • Paladin 2008/02/11 02:12:16
    Prices will soar well above $80 / barrel
    Paladin
    Its not that the price or worth of oil is going up .........the value or should I say worth of the dollar is declining !
  • DELETED 2007/10/18 05:46:09
  • Daniel 2007/09/06 21:35:21
    Prices will drop to as much as $60 / barrel
    Daniel
    I think its all a game to break the back of the working poor.
  • K man 2007/06/25 22:56:34
    Prices will go up to as much as $80 / barrel
    K man
    Short term - it will rise a little and then drop back some; normal fluctuation given the world increase in demand.

    .
  • Patrick 2007/06/23 14:17:36 (edited)
    Prices will soar well above $80 / barrel
    Patrick
    The entire world economy revolves around crude oil, not gold not silver not stocks and bonds. Oil is the destiny of the world. China right now could banrupte our economy if it spends it Trillion dollares worth of Amercian Greebacks into buying all the oil avaiable and there is nothing we can do about it!. Our corrupt politicians have lined their pockets with taxpayer monies and oil companies payoffs, why do you think the owners of the companies all went overseas, it was so they could escape the control of public outcry to politicians and get themselves regulated. Don't forget that the biggest whores in the world are the Banks who by the way control the oild industry. Barclays, Bank Parbius, Chemical Bank these are the finance people who front the monies to buy the oil and handle the transactions. Our Florida Senators and Congress keep patting themselves on the back for saving the Florida Beaches, I;m the 6th generation in Florida and I can tell you the Beaches are already gone.l Panama City my home used to have beaches so white you could bottle it for salt, now it's a dingie tan color due to the contruction of condo etc for the eleit few. The public can't even get to the beaches, and the money made doesn't stay in Florida the developers are mostley from out of state, Who's kid...
    The entire world economy revolves around crude oil, not gold not silver not stocks and bonds. Oil is the destiny of the world. China right now could banrupte our economy if it spends it Trillion dollares worth of Amercian Greebacks into buying all the oil avaiable and there is nothing we can do about it!. Our corrupt politicians have lined their pockets with taxpayer monies and oil companies payoffs, why do you think the owners of the companies all went overseas, it was so they could escape the control of public outcry to politicians and get themselves regulated. Don't forget that the biggest whores in the world are the Banks who by the way control the oild industry. Barclays, Bank Parbius, Chemical Bank these are the finance people who front the monies to buy the oil and handle the transactions. Our Florida Senators and Congress keep patting themselves on the back for saving the Florida Beaches, I;m the 6th generation in Florida and I can tell you the Beaches are already gone.l Panama City my home used to have beaches so white you could bottle it for salt, now it's a dingie tan color due to the contruction of condo etc for the eleit few. The public can't even get to the beaches, and the money made doesn't stay in Florida the developers are mostley from out of state, Who's kidding who, when gas reaches $8 to $10 a gallon there will not be touriest. Thank god! Praying for no one to get hurt I would mind a catagory five hurrican to come through and level theis beach all the way back to the St Andrews Bay. It was a felony to cut sea oats, now there are no sea oats, what happened? Money and crooked politicians and bankers who funded the lobbying efforts for the developers, and guess what it wasn't even American Craftsman who built them it was and is illegal immigrants who worked for nothing compared to the American workers who have to live in the American economy. Not twenty or more to a room, selling mexican dope and raping and murdering citizens. American needs to wake up we as a nation are falling apart. We need to follow Venzuela (/) and nationalize our oil industry and build new refineries and drill off the coast of florida. Don't foget I come from a pioneer florida family and I'm for drilling. But not by private companies who manipulate the output to keep the price low! Bush and Cheny and minions will never let this happen they are for the eleite not the mass of people who they control through miss information and creating crisis to shift attention away from their greed. These are evil men! Surounded by evil men who only respect money and power not quality of life for American Citizens!
    (more)
  • True~Male 2007/06/23 02:00:55
    Prices will soar well above $80 / barrel
    True~Male
    BY the end of summer
  • highlatte 2007/06/21 18:05:51
    Prices will go up to as much as $80 / barrel
    highlatte
    The near future, next 1-3 yrs. More after that.

    Rarely does any necessary commodity go down in price, ie food, utilites, clothing

  • jackrorabbit 2007/06/21 14:31:29
    None of the above
    jackrorabbit
    It will all depend on how much speculators are willing to drive the
    price. This is a demand market, and as long as we demand oil, then the
    price will stay static or rise, but as soon as someone creates a viable
    alternative to oil, or we begin doing coal to oil or anything else that
    threatens the Saudi oil revenues, then they will flood the market and
    the price will fall.
  • Haley 2007/06/21 03:35:05
    Prices will soar well above $80 / barrel
    Haley
    this crap is stupid and we need to do something about it, but I do belive it will soar and we'll be in a rut
  • JackBauer 2007/06/21 00:32:07
    Prices will soar well above $80 / barrel
    JackBauer
    Maybe not this year or even next, but by 2009 the mideast will be thrown into all out war and chaos, and oil will near $100 + a barrell
  • Tabby 2007/06/20 21:26:30
    Prices will drop to as much as $60 / barrel
    Tabby
    Drop Drop PLEASE drop!
  • Danny 2007/06/20 21:20:35
    Prices will go up to as much as $80 / barrel
    Danny
    Pretty sure it's just going to get worse and worse...

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