[PeakOiler]

I've already lost? Haha. Low price of $34.

LOL! No. Updated.

[PeakOiler]

Here's the initial scorecard for 2016:



Only one day was reported by EIA for 2016 so far. Markets were closed for New Year's Day of course, and then the 2nd and 3rd were the weekend, so there was no data for those dates as well. I had forgotten about that, so the deadline to enter or change your guesses has been extended one more week!

[Pops]

That will be my best rank all year!

[Pops]

From POB


http://peakoilbarrel.com/bakken-single- ... more-10980

[dolanbaker]

I had forgotten about that, so the deadline to enter or change your guesses has been extended one more week!

Good! because the price has just zoomed south past my minimum price, I will change my low guess (again) one day before closing.
Brent has just dropped 6%

[Subjectivist]

I can only go up from here!

[Cog]

Please adjust my low oil price to $32

[dolanbaker]

Please drop my low to $31

[PeakOiler]

Cog and dolanbaker: Updated.

It seems to me there will be a slow steady rise in prices now that the US export ban has been lifted and production from N. Dakota and Texas are both in decline now. The continuing conflicts in the ME swill continue to put upward pressure on prices too. The only thing that seems to be keeping the price low at this time is the storage glut, but that too seems to be in decline, and by the end of the year, that "glut" will be greatly reduced.

We'll see.

Any last minute players? Come on! There's plenty of room!

[Cog]

When is the absolute last day we can modify prices?

[PeakOiler]

When is the absolute last day we can modify prices?

Before the weekly EIA report is released this next Wednesday, the 13th. I think the report is posted at 1:00 pm Eastern US time zone.

[Cog]

Thanks. I doubt the price will go much lower. Like trying to catch a falling knife.

[kublikhan]

In that case here is my new low: $30

[dolanbaker]

Looks like I may be revising down again in a couple of days.

[dolanbaker]

Can you please drop me down to $30 (last change I suspect)

[careinke]

OK, my final guess is:

High - 101
LO - 26.5
close 96
Average 48.6

[Cog]

Please adjust my low price to $29.50

[Keith_McClary]

War Between Saudi Arabia And Iran Could Send Oil Prices To $250
OilPrice.com
12 January 2016

[Outcast_Searcher]

War Between Saudi Arabia And Iran Could Send Oil Prices To $250
OilPrice.com
12 January 2016

So THAT'S KSA's strategy!

1). Convince the world you'll drive oil prices to self-destructive low prices. Drive a lot of Western competition out of business (for now) while you're at it.

2). When no one is watching, buy a bazillion oil futures. (Or a kazillion. The more the better).

3). Start a shooting war with Iran, somehow ensuring your oil facilities aren't largely destroyed in the process.

4). Unload the oil futures for 4x to 8x profits.

5). Laugh maniacally while you continue to sell your normal oil for at least as much as it was selling for when the whole sleigh ride began, for years to come.

....

Pretty sneaky!

Geopolitics is funny though -- wars being unpredictable and all.

...

Now, if they didn't hate Iran and they could get Iran in on the game and both sides fake it -- wow, couldn't THAT be some fun? Hmmmmm. Maybe OPEC has the wrong strategy.

[PeakOiler]

Alright. Here's the first "official" scorecard after the grace period



Good luck everyone!

What happened to SteinarN?