Sign In
SHARE
Email Confirmation
Barrel Fever
by Jeff VanDam
May 2008 Issue
May 2008 Issue
How much will crude cost by the end of the summer? The experts weigh in.
Crude at $100 a barrel makes good headlines but ignores basic economics. Why oil prices are in for a 50 percent drop. Read More
Imagine a country where Americans are beloved, mini-mansions are springing up, and oil bubbles forth unaided. Denis Johnson reports from the new wheeler-dealer capital of the Middle East and asks, Is this the future of Iraq or just a desert mirage? Read More
The price of oil has broken barrier after barrier in recent months, even as a recession threatens to slow sales. Just how supply and demand will tweak prices this summer is anyone’s guess. Below, some predictions from economists on the cost of a barrel of crude by September.
Peter Barker-Homek
C.E.O.
Abu Dhabi National Energy Co.
$120
"[This is due to] the softness of the dollar and the occasional interruptions…because of politics." 1
Jeff Rubin
Chief economist and chief strategist
Canadian Imperial Bank of Commerce World Markets
$106
"The third quarter includes the peak driving season for the Northern Hemisphere."
Commodities Research Team
Barclays Capital
$97.70
"The recalibration of prices is continuing apace. We have yet to see the high price of 2008."
Adam Sieminski
Chief energy economist
Deutsche Bank
$85
"More production is coming in Saudi Arabia, and high prices are starting to hurt demand."
Phil Flynn
Vice president and energy analyst
Alaron Trading Corp.
$70 to $80
“We’re going to go to $110 a barrel, but this bubble’s going to pop midsummer.”
Source: 1Bloomberg News, March 2008.
Peter Barker-Homek
C.E.O.
Abu Dhabi National Energy Co.
$120
"[This is due to] the softness of the dollar and the occasional interruptions…because of politics." 1
Jeff Rubin
Chief economist and chief strategist
Canadian Imperial Bank of Commerce World Markets
$106
"The third quarter includes the peak driving season for the Northern Hemisphere."
Commodities Research Team
Barclays Capital
$97.70
"The recalibration of prices is continuing apace. We have yet to see the high price of 2008."
Adam Sieminski
Chief energy economist
Deutsche Bank
$85
"More production is coming in Saudi Arabia, and high prices are starting to hurt demand."
Phil Flynn
Vice president and energy analyst
Alaron Trading Corp.
$70 to $80
“We’re going to go to $110 a barrel, but this bubble’s going to pop midsummer.”
Source: 1Bloomberg News, March 2008.
Mobile
| Read All