I guess Russia is going to feel it big time.
Wonder countries like venezuela, mexico, and Dubhai is going to look like if this becomes true.

Oil May Fall Below $25 Next Year, Merrill Lynch Says (Update1)
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By Grant Smith

Dec. 4 (Bloomberg) -- Crude oil may dip below $25 a barrel next year if the recession thats slashing fuel demand around the world spreads to China, Merrill Lynch & Co. said.

Global oil demand will contract in 2009 as economic growth slows to its weakest since 1982, Merrill Commodity Strategist Francisco Blanch said in a report today. In October, when oil was around $100 a barrel, the bank predicted that prices may slide to $50. Crude traded at $45.30 in New York today, the lowest since February 2005.

A temporary drop below $25 a barrel is possible if the global recession extends to China and significant non-OPEC cuts are required, Blanch said. In the short-run, global oil demand growth will likely take a further beating as banks continue to cut credit to consumers and corporations.

http://www.bloomberg.com/apps/news?pid=20601087&sid=acgAzpwrcUfQ&refer=home

LoL, where are the "analysts" that said oil would soon hit $200. I hope they got fired


Mobile airpower

"The enemy dies relaxed," observed a Lockheed Martin manager.

Good and bad.


Good in that, if so, petro-related products will be dramatically cheaper. Bad in that, if so, it's an indicator of bad international economic conditions that probably offset cheap oil.


Ah, Hell........six in one, half dozen in the other. $1.50 gas is nice to see again but I am really considering getting a somewhat smaller vehicle next time around regardless of what fuel prices do.

Too bad(or not) they wont stay that low, China and India are still there, US and EU are still there and all the cars are still there

--------------------------------------------

"Too bad(or not) they wont stay that low...."




Oh, agree 100%. There was some play in my post above. Oil and fuel are going to be higher in the future and I am girding for $3+/gallon from here on out as a regular summer occurrence. Even if I can afford the fuel prices I look at what I spent on gas over the last year and can find any number of better ways to have better spent or saved it.

Well you cant go too economical, they would do horrible things to you down in TX if they caught you driving a hybrid

--------------------------------------------

"Well you cant go too economical, they would do horrible things to you down in TX if they caught you driving a hybrid."




A hybrid, yes. Only homos, lesbos, hippies, and metrosexual momma-boys drive hybrids. I'm talking about moving from an F-150 to a Tacoma or Frontier.........terrible stirrings for a gent like myself but

Good news for car companies in China, then


This is China

A hybrid, yes. Only homos, lesbos, hippies, and metrosexual momma-boys drive hybrids.

Never understood that logic. A car is a car. If it is cheaper to run, by all means get the car that saves you money.

Siege of Tobruk - One German POW said: "I cannot understand you Australians. In Poland, France, and Belgium, once the tanks got through the soldiers took it for granted that they were beaten. But you are like demons. The tanks break through and your infantry still keep fighting." Rommel wrote of seeing "a batch of some fifty or sixty Australian prisoners ... marched off close behind usimmensely big and powerful men, who without question represented an elite formation of the British Empire, a fact that was also evident in battle."

Well yes and no Bro (I know, that rhymes.) The thing about hybrids with me is that I keep feeling like they are somewhat of a scam. OK, they're cheaper on gas, but they cost lots more for those savings and have batteries that will probably cost as much as a "normal" used version of the same car to replace when they finally die (no, I haven't got any links, I'm just talking out of my a$$.)

Personally, I'd rather drive a diesel. Mature technology, that renders very good savings (albeit at another price premium compared to a similar "normal" car.)

I just have a sense that hybrids are more for environmental "poseurs", who if they really cared so much about the environment and resources, would be riding the bus.



[IMG][/IMG]

The price of diesel is hardly lower than the price of normal gasoline. LPG is a lot cheaper though.


Mobile airpower

"The enemy dies relaxed," observed a Lockheed Martin manager.

"LoL, where are the "analysts" that said oil would soon hit $200. I hope they got fired "

same "analysts" make oil would soon hit $25 prediction

===========================================
I am old Christiankiller
Sorry for offensive to our good religion christian brothers
I am not hating christians

Maybe I should start putting my whole savings into oil, for beeing able to drive my dreamcar when retired ^^



Why do I have the feeling that the "hybrid" carmakers wont come up with a descent version of that kind of car ...

---------------------------------------------
A German Soldier doesnt die, he goes to hell and regroups !

I retract what I just said... Sorry Joe, you are right, Hybrids are gay... they'll never look as good as the car above...

Siege of Tobruk - One German POW said: "I cannot understand you Australians. In Poland, France, and Belgium, once the tanks got through the soldiers took it for granted that they were beaten. But you are like demons. The tanks break through and your infantry still keep fighting." Rommel wrote of seeing "a batch of some fifty or sixty Australian prisoners ... marched off close behind usimmensely big and powerful men, who without question represented an elite formation of the British Empire, a fact that was also evident in battle."

Actually the worst-case scenario happens, when the economy regains growth. Oil has long reached its drill-peak and the demand will increase the price to new unknown heights. So everyone who owns a petrol-powered car should enjoy the taste of driving for low cash for the last time in his life LOL!



---------------------------------
Searching for the PKK scum...

Actually, companies like BT and shell are stock pilling oil in anyway they can.
They even are using tankers boats for storage.
The cost of oil should go back up eventually.

first it was over valued and collapsed now it will be under valued and shoot up in 2010-2011 to $200 have no doubt about it

oil goe up 10% on russian federation of ummah talented great history of brotherly nation make output cut declares

http://news.yahoo.com/s/afp/20081211/bs_afp/commoditiesenergyoilprice_081211214936

"Oil soars as Russia plans output cut
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Digg Facebook Newsvine del.icio.us Reddit StumbleUpon Technorati Yahoo! Bookmarks Print Thu Dec 11, 4:49 pm ET AFP/Getty Images/File Oil rigs extract petroleum in the Los Angeles area community of Culver City, California. Crude oil prices
Slideshow: Oil Industry Play Video Video: MoneyWatch: Foreclosures Up As Unemployment Surges CBS 2 New York Related Quotes Symbol Price Change
^DJI 8,432.79 -132.30
^GSPC 859.57 -14.02
^IXIC 1,493.22 -14.66
NEW YORK (AFP) Crude oil prices jumped more than 10 percent Thursday after Russia said it was ready to join forces with OPEC and cut output.

Traders shrugged off a forecast of the first decline in oil demand in 25 years, instead anticipating joint efforts by the Organization of the Petroleum Exporting Countries and Russia to slash production in an effort to bolster prices.

Light sweet crude for delivery in January closed at 47.98 dollars a barrel on the New York Mercantile Exchange, a gain of 4.46 dollars, or 10.25 percent, from Wednesday's close.

In London, Brent North Sea crude for January jumped 4.99 dollars, or 11.77 percent, to settle at 47.39 dollars a barrel on the InterContinental Exchange.

After the benchmark New York contract closed Friday at a four-year low of 40.50 dollars, the market has increasingly focus on next week's OPEC meeting in Oran, Algeria.

Russia is ready to join forces with OPEC to stem the plunge in crude prices and could even become part of the oil cartel if membership were in Moscow's interests, Russia President Dmitry Medvedev said Thursday.

"Our partners, colleagues from the oil club (OPEC) are asking us to have a coordinated policy and whoever I meet, they are asking quite actively," he said in remarks broadcast on state television.

"I would like to say that we are ready to protect ourselves as this is our base income, oil and gas," said Medvedev.

"Such protective measures can be linked to a reduction in oil production volumes, joining existing organisations of suppliers as well as participation in new organizations, if we can agree about this ahead of time," he added.

Russia is not a member of OPEC, but ranks alongside Saudi Arabia, de facto leader of the cartel, as the world's largest oil exporter.

The Russian president's comments came ahead of a meeting of the 13-member OPEC on December 17 where coordination with non-OPEC oil producers like Russia is expected to be a major issue.

The cartel is widely expected to cut production in a bid to bolster prices that have plunged from record highs above 147 dollars in July.

OPEC, which pumps 40 percent of world crude, has called on non-members to play a role in reducing output to stem the sharp slide in crude prices of the last five months.

John Kilduff at Alaron Trading noted that prices were also supported "by a statement by Saudi Oil Minister Ali al-Naimi who said they pumped 8.49 million bpd (barrels per day) in November, less than estimated, and in-line with its OPEC target."

The oil market largely ignored the International Energy Agency's (IEA) forecast that global oil demand would fall this year for the first time in a quarter century because of a worldwide economic slowdown.

"Global oil demand is now expected to contract in 2008 for the first time since 1983, shrinking by 0.2 million barrels per day, with the total (daily demand) this year revised down by 350,000 bpd to 85.8 million bpd," the IEA said in its latest monthly report.

In 2009, demand will grow again to a downwardly revised 86.3 million bpd, the IEA said, basing its forecasts on International Monetary Fund projections for a pick-up in the global economy next year.

The Paris-based IEA had previously predicted oil demand for this year and next at 86.2 million and 86.5 million bpd, respectively.
"

russian fedeartion other ummah brothers must unite to make opec more strong cartel
its unity which give shiver to their tender spien of anglo westrns amerikunts hillybillly cnvts cnvtlingins homosexual faggetry incestuous paedophilia its jungle culture?

its in both russian and opec interest to join hands

opec now only produce less than 40% of world output
russia is largest with saudi outputter
russia join opec mean big news same as other african countries








===========================================
I am old Christiankiller
Sorry for offensive to our good religion christian brothers
I am not hating christians

anglozionazikiller

You're one retarded individual..

You really consider Russia as part of your ummah?


Seek knowledge even as far as China. - Saying of Prophet Muhammet (pbuh)

We Turks built an immense empire and we can do it again, we still have the know how. World, watch the Turks, they are coming back.

Empire is our character...

As oil goes under $40 on the world market they can predict cuts all that they like.


Oil makes the world go around and the market predicts where oil prices go. If oil dips, great for the consumer and buying investor. As oil increases, great for oil and the selling investor.


Low oil is good for the public at large since transport and fuel prices tank. Let's hope it stays low for a while.

liter fuel is under one euro here in germany now

 

i would have never thought to see this moment in my life. this is so awesome, i do save 100 euro from fuel cost every month now. best measure to boost cunsume.

Napoleon auf St. Helena: "Hätte der Himmel gewollt, dass ich als deutscher Fürst geboren wäre und hätten Sie mich einmal zu Ihrem Kaiser gewählt und ausgerufen so scheint mir noch Heute, dass Sie nie von mir abgefallen wären und ich Heute nicht hier sitzen müsste."