Where are Oil & Gas Prices Headed?

Where are Oil & Gas Prices Headed?

oil & gas pricesWe are attending the Nortstar Private Equity Fast Pitch conference. The keynote speaker was Marshall Adkins with Raymond James. We looked at where oil & gas prices are headed.

Where are Oil & Gas Prices Headed?

Below are the highlights:

  • The fundamentals for oil prices are trending down
  • Global demand is declining and supply is increasing
  • Oil prices may decline to $80-$85 bbls
  • Gas prices should increase to )4-$5 mcf ; less drilling for oil should result in less gas supply
  • These price should occur in 2014
  • Vehicle miles travelled is falling because of three trends; shrinking demographics ( Baby Boomers retiring); increased urbanization; rising Internet sales
  • Therefore gasoline demand has decreased 8% over the past 5 years

Everyone else is optimistic about rising oil prices. All I know is “trees don’t grow to the sky!”
 

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