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Bold Prediction of Future Oil Price

Stepping into a leadership position among Wall Street oil observers, Barklays has boldly predicted that oil could cost as much as $137 in 2015.  Right.  Here’s the report:

Oil Futures Hit $137 for 2015

by  Kerry Laird      Rigzone      Friday, February 22, 2008

Barclays Capital, a division of Barclays Bank PLC located in the U.K., has upped its projected oil cost for the year 2015 from $93 a barrel to $137 a barrel after record high prices in oil futures this week.

In 2006 after oil reached a “record-high” $75 a barrel, Barclays had made the 2015 projection of $93 a barrel.

In a Barclays research note forecasting the spike in price, analysts noted that “the remorseless move up in long-run prices has not yet fully played out.”

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This entry was posted on Sunday, February 24th, 2008 at 5:00 pm and is filed under Price of oil. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2 responses so far ↓

  • 1 Sleep // May 6, 2008 at 5:48 am

    lol. “$93 in 2015, oh no, say it aint so!” Oil is currently selling at $136 and this is 2008.

  • 2 GHarris // May 6, 2008 at 5:17 pm

    I’ve seen something earlier today, May 6, where one logistics manager is planning on $8 per gallon fuel costs in 2010!

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