Wednesday, January 4, 2012

Oil Price History

In my predictions I said oil will be between $80 and $130 a barrel in 2012.

I disagree with Byron Wien, who predicts oil will drop to $85 a barrel in 2012. He missed his prediction for 2011 when he said oil would climb to $115 a barrel. Unless of course these predictions are based on a one time occurrence, and not a trend or average.

From Bloomberg News

Blackstone Group LP (BX)’s Byron Wien, whose prediction for the U.S. economy and stock market in 2011 proved too optimistic, said oil will slip to $85 a barrel this year and the Standard & Poor’s 500 Index will exceed 1,400.

Here is the oil history for WTI for the last 3 years.
click here for the source, which gives a much longer history.


2009-01-01 41.740
2009-02-01 39.160
2009-03-01 47.980
2009-04-01 49.790
2009-05-01 59.160
2009-06-01 69.680
2009-07-01 64.090
2009-08-01 71.060
2009-09-01 69.460
2009-10-01 75.820
2009-11-01 78.080
2009-12-01 74.300
2010-01-01 78.220
2010-02-01 76.420
2010-03-01 81.240
2010-04-01 84.480
2010-05-01 73.840
2010-06-01 75.350
2010-07-01 76.370
2010-08-01 76.820
2010-09-01 75.310
2010-10-01 81.900
2010-11-01 84.140
2010-12-01 89.040
2011-01-01 89.420
2011-02-01 89.580
2011-03-01 102.940
2011-04-01 110.040
2011-05-01 101.330
2011-06-01 96.290
2011-07-01 97.190
2011-08-01 86.330
2011-09-01 85.610
2011-10-01 86.410
2011-11-01 97.210
2011-12-01 98.570

2 comments:

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Henrik Kielland said...

Thanks for the info. Great to see data points and get an idea of the big picture. $85 p barrel may be a bit too bearish in my view!