[vtsnowedin]

Well I've got the low covered for now. All I need is a little more disruption in the Mid East to send prices back up to start rising in the rankings.

[Subjectivist]

WooHoo Last Place!

[wildbourgman]

I want to start all over again!

[dolanbaker]

I've already lost the low, but I can still win with the high, end & average

[PeakOiler]

Here's the scorecard as of 19-Jan:



I hope the bottom has been reached. My low difference is only $0.16!

[Pops]

I thought it might fall a speck on the actuality of Iran sanctions but I think it kinda wobbled down more on just general fear than anything else.

Some guy in the EU mumbled QE so it's all roses from here!

[salinsky]

The other day, I believe I saw it at 26.55 and then it took a thundering bounce. It's all tall cotton from now on!
Sal

[Tanada]

I just checked the data for the last 5 years, Oil only fell under $50/bbl in August and every time it flirts with the $30/bbl floor it bounces back up relatively quickly. It could fall to $5/bbl on Monday because the market is kind of a crazy place, but all the big traders use computer algorithms to predict when they should sell or buy. As a result I think most of the big traders already had Iran priced into their models so when the market opened Monday it declined for a couple days while some sheep panicked and were sheered of their excess cash, but by Thursday the dust was settling nicely and today things returned back up over 30/bbl where it was Thursday the 14th, and it looks like the price is headed back for the $35-$45 trading range it was bouncing around before sanctions were lifted. I guess as long as Goldman Sachs and Jim Cramer make ad money by screaming it is going to keep going down for months they will do so, until they think they can make more money by saying it is headed back up.

[PeakOiler]

Here's the new scorecard:



Yes, it did drop a little more for a new low price. Rats! Just when I thought I might have pegged the low.

[vox_mundi]

Going up ...

Oil jumps as Russia says Saudis proposing global oil cut

Russia said on Thursday that OPEC's largest producer Saudi Arabia, had proposed oil production cuts of up to 5 percent in what would be the first global deal in over a decade to help clear a glut of crude and prop up sinking prices.

Russian Energy Minister Alexander Novak said Saudi Arabia had proposed that oil-producing countries cut production by up to 5 percent, which for non-OPEC member Russia - the world's top producer - would represent around 500,000 bpd.

"Indeed, these parameters were proposed, to cut production by each country by up to 5 percent," Novak said. "This is a subject for discussions, it's too early to talk about."

Saudi Arabian officials did not immediately comment on the proposal but a senior Gulf OPEC delegate said: "Gulf OPEC countries and Saudi Arabia are willing to cooperate for any action to stabilize the international oil market."

The proposal did not come directly from Saudi Arabia but rather from OPEC members Venezuela and Algeria, one Gulf OPEC source said.

[PeakOiler]

Here's the scorecard as of Feb. 8:



We may still see another low price by next week.

[careinke]

I'll take 18 cents for the low. Now we just need an all out Sunni/Shia war and I win.

[salinsky]

How did I get knocked down to 6th place from 5th place?
Sal

[PeakOiler]

How did I get knocked down to 6th place from 5th place?
Sal

Because there are two sorts: First is by Overall Difference (ascending), the second sort is by Name. Since you and Revi were tied by overall diff, then your name was sorted alphabetically. Not to worry, the standings will probably change by the next report.

[salinsky]

Thanks for the clarification. I'm still wondering what happened with SteinarN. Throughout the past year he was looking forward to be the winner, and when it came to pass, he didn't show up for the applause.

[PeakOiler]

The scorecard as of Feb. 22nd:

[obixman]

Well - I seem to have settled in on 21st place comfortably

[Revi]

I am still #7, which is pretty good for me. I actually am in the top 10!!!!!! First time ever.

[PeakOiler]

Thanks for the clarification. I'm still wondering what happened with SteinarN. Throughout the past year he was looking forward to be the winner, and when it came to pass, he didn't show up for the applause.

No prob. Yeah, I wonder what happened to SteinarN as well. I hope he is OK. SteinarN at one point was going to post and maintain a Brent Oil Price Challenge game. ???

No significant changes in the scorecard. Revi and I switched places.

Want to make another bet this year, Revi? LOL (I don't need any more maple syrup. I still have the last bottle of syrup frozen.)

[Cog]

I am awaiting the inexorable rise to $55/bbl.