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Oil and gas price forecast for 2013

Smart Planet -- My outlook for oil prices is essentially unchanged from my June forecast: Oil producers will cling to the “narrow ledge” for another year. As I predicted at that time, oil prices did in fact move back up in the second half of the year; OPEC kept output unchanged; Israel did not bomb Iran; and spare capacity increased. On the basis of that model, I would probably choose a $110 average for Brent in 2013, but I’m inclined to reduce that forecast slightly for the following reasons.

First, I expect WTI to continue to remain at a $10-15 discount to Brent, down from $17 this year, due to the ongoing glut at the Cushing, Oklahoma hub. By comparison, Goldman Sachs thinks the Brent-WTI spread could fall to as little as $4.50. Enbridge says that its Seaway pipeline will ramp up from 150,000 barrels

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Submitted Dec 31, 2012 By: dave27johnson

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CSharpGuy Champion Author Colorado Springs Posts:9,482 Points:1,900,335 Joined:Jan 2008	Message Posted: Jan 2, 2013 6:43:18 AM Ignore CSharpGuy Report Abuse I think Smart Planet is being conservative. With the liberals in charge it will be a lot worse.
MrPony Veteran Author North Carolina Posts:425 Points:395,715 Joined:Jul 2004	Message Posted: Jan 1, 2013 11:57:42 PM Ignore MrPony Report Abuse let's go back to the old days when gas was only 29 cents a gal!
mcmonsta Champion Author Honolulu Posts:3,237 Points:820,495 Joined:Sep 2009	Message Posted: Jan 1, 2013 10:33:25 PM Ignore mcmonsta Report Abuse we shall see....if the crystal ball is correct
clermont40miles Champion Author Cincinnati Posts:10,588 Points:1,774,820 Joined:Apr 2008	Message Posted: Jan 1, 2013 10:02:01 PM Ignore clermont40miles Report Abuse The fortune teller in the photo will do as good of job predicting accurately.
kishoreCA Champion Author Ventura Posts:3,129 Points:394,845 Joined:Mar 2012	Message Posted: Jan 1, 2013 9:12:13 PM Ignore kishoreCA Report Abuse so high prices at pump?
BeatOPEC All-Star Author Indianapolis Posts:857 Points:197,130 Joined:Apr 2011	Message Posted: Jan 1, 2013 9:09:05 PM Ignore BeatOPEC Report Abuse Speculators run the market... not OPEC.
mst150 Champion Author Detroit Posts:1,262 Points:161,805 Joined:Dec 2012	Message Posted: Jan 1, 2013 9:07:05 PM Ignore mst150 Report Abuse Ok
regout Champion Author Quebec Posts:2,965 Points:834,655 Joined:May 2010	Message Posted: Jan 1, 2013 9:06:47 PM Ignore regout Report Abuse No body can predict anything about the oil prices.
bbreff Champion Author Atlanta Posts:9,863 Points:2,571,340 Joined:Jun 2005	Message Posted: Jan 1, 2013 9:02:22 PM Ignore bbreff Report Abuse And this is another reason that we need to be self-sufficient.
J Eric Champion Author Los Angeles Posts:10,282 Points:2,073,005 Joined:Feb 2004	Message Posted: Jan 1, 2013 9:00:43 PM Ignore J Eric Report Abuse Just who are YOU, anyway? The Prince of Audi Arabia?
naspa Champion Author Cleveland Posts:1,281 Points:354,100 Joined:Jan 2012	Message Posted: Jan 1, 2013 8:59:12 PM Ignore naspa Report Abuse To me 2012 was the most expensive gas year I remember.
arcaneradio Champion Author Michigan Posts:2,537 Points:493,880 Joined:Dec 2010	Message Posted: Jan 1, 2013 8:58:37 PM Ignore arcaneradio Report Abuse Gas will go up. What's there to predict? The price will nearly 5 dollars. We know this. The price is being manipulated.
40mpgsaturn Champion Author Wisconsin Posts:2,500 Points:522,380 Joined:Jun 2011	Message Posted: Jan 1, 2013 8:58:06 PM Ignore 40mpgsaturn Report Abuse Only time will tell!
PoohMcGoo Champion Author Alabama Posts:3,077 Points:802,635 Joined:Dec 2010	Message Posted: Jan 1, 2013 8:57:50 PM Ignore PoohMcGoo Report Abuse Just opinions.
benjy Champion Author Chicago Posts:8,604 Points:1,790,485 Joined:Nov 2003	Message Posted: Jan 1, 2013 8:53:14 PM Ignore benjy Report Abuse overall it was'nt that bad of a year, I expect about the same 4 this one.
TDIdave Champion Author California Posts:5,068 Points:1,226,690 Joined:May 2006	Message Posted: Jan 1, 2013 8:51:18 PM Ignore TDIdave Report Abuse I wish the USA would keep USA pumped oil in the USA.
fenster66 Champion Author Pittsburgh Posts:3,360 Points:676,040 Joined:May 2011	Message Posted: Jan 1, 2013 8:49:37 PM Ignore fenster66 Report Abuse prices at the pump will go up, is my prediction....
itzagasgasgas1 Champion Author Cincinnati Posts:3,984 Points:1,601,445 Joined:Aug 2005	Message Posted: Jan 1, 2013 8:48:59 PM Ignore itzagasgasgas1 Report Abuse We are behind the eight ball.
ModelWarships Champion Author Missouri Posts:5,805 Points:1,234,035 Joined:Jul 2008	Message Posted: Jan 1, 2013 8:48:15 PM Ignore ModelWarships Report Abuse with 2012 being the highest average price ever, 2013 can not be far behind. Especially with 0bama in for 4 more.
germainesr Champion Author Columbia Posts:1,141 Points:352,610 Joined:Sep 2008	Message Posted: Jan 1, 2013 8:45:27 PM Ignore germainesr Report Abuse I predict that we are going to get hosed
tco9436 Champion Author Connecticut Posts:1,782 Points:724,225 Joined:Mar 2010	Message Posted: Jan 1, 2013 8:43:14 PM Ignore tco9436 Report Abuse we'll always be at the mercy of big oil
RBob Champion Author Portland Posts:3,384 Points:2,349,825 Joined:May 2004	Message Posted: Jan 1, 2013 8:42:15 PM Ignore RBob Report Abuse I predict it will go up 10, down 5, up 10, etc. all year.
rf6480 Champion Author Miami Posts:1,538 Points:549,510 Joined:Mar 2011	Message Posted: Jan 1, 2013 8:41:55 PM Ignore rf6480 Report Abuse Actually I saw gas prices go down in the 2nd half only to go up just in time for holiday driving. Thanks to the price manipulators.
BumpinButch Champion Author Texas Posts:1,616 Points:511,250 Joined:Feb 2009	Message Posted: Jan 1, 2013 8:41:47 PM Ignore BumpinButch Report Abuse I sorta think that the BOG (Big Oil Greedies) will keep their BFF (Big Fat Fingers) on the HOLD button as to letting off on the Downward Trend in the Gas/Oil markets.... but what do you really think? Watching the Congress work on a TAX Plan that really won't help the 98% of US (We The People)is as bad as Eating Lead Paint for many.........
Janetique Champion Author Virginia Beach Posts:1,144 Points:747,615 Joined:Jul 2008	Message Posted: Jan 1, 2013 8:41:23 PM Ignore Janetique Report Abuse ok. time will tell.
CISA Champion Author Orange County Posts:5,956 Points:1,400,940 Joined:Dec 2006	Message Posted: Jan 1, 2013 8:40:14 PM Ignore CISA Report Abuse Yes to gas prices going UP! Why? ..... Gas prices go up when the economy is exceeding 3% growth--- more jobs, more demand Gas prices down when the economy is under 2% growth--- fewer jobs, less demand which do you prefer??
us4usa Champion Author Missouri Posts:6,003 Points:1,115,215 Joined:May 2008	Message Posted: Jan 1, 2013 8:39:52 PM Ignore us4usa Report Abuse My forecast for 2013 is the higher gas prices the less money people have for goods...
sleuth696 All-Star Author Ventura Posts:953 Points:204,865 Joined:Oct 2012	Message Posted: Jan 1, 2013 8:38:57 PM Ignore sleuth696 Report Abuse ok
VanIsleLes All-Star Author British Columbia Posts:898 Points:278,495 Joined:Jun 2012	Message Posted: Jan 1, 2013 8:38:40 PM Ignore VanIsleLes Report Abuse nobody really knows til they do it
FortVancouver01 Champion Author Washington Posts:1,175 Points:289,770 Joined:Jul 2012	Message Posted: Jan 1, 2013 8:38:08 PM Ignore FortVancouver01 Report Abuse I predict prices will go up with speculation in full force.
Bullseye520 Champion Author Louisville Posts:2,207 Points:669,340 Joined:Apr 2011	Message Posted: Jan 1, 2013 8:37:52 PM Ignore Bullseye520 Report Abuse Speculators need to be removed from the market!
Sapper08 Champion Author Indianapolis Posts:1,079 Points:323,225 Joined:Mar 2012	Message Posted: Jan 1, 2013 8:37:08 PM Ignore Sapper08 Report Abuse We continue to subsidize an industry that profits billions each quarter!
MotoDad Champion Author Phoenix Posts:1,106 Points:813,065 Joined:Sep 2006	Message Posted: Jan 1, 2013 8:34:18 PM Ignore MotoDad Report Abuse I predict the oil companies will make billions of dollars.
unclenorman Champion Author Tampa Posts:1,358 Points:142,200 Joined:Jan 2012	Message Posted: Jan 1, 2013 8:34:06 PM Ignore unclenorman Report Abuse Remove oil/gas from the commodity markets.
dookitout Veteran Author Michigan Posts:276 Points:90,440 Joined:Oct 2008	Message Posted: Jan 1, 2013 8:32:16 PM Ignore dookitout Report Abuse Krackah Pleeeze.
danreino Champion Author Twin Cities Posts:8,363 Points:1,542,680 Joined:Mar 2008	Message Posted: Jan 1, 2013 8:32:12 PM Ignore danreino Report Abuse You can wish in one hand...
Ray_10589 Champion Author New York Posts:4,956 Points:1,184,935 Joined:May 2009	Message Posted: Jan 1, 2013 8:31:23 PM Ignore Ray_10589 Report Abuse OK Merry Christmas and Happy New Year
tidalwave3 Champion Author Tallahassee Posts:1,308 Points:1,466,180 Joined:Jun 2008	Message Posted: Jan 1, 2013 8:30:10 PM Ignore tidalwave3 Report Abuse Forecasts are like xxxx xxx everybody's got one :P
1Boog Champion Author Lincoln Posts:5,986 Points:1,203,850 Joined:May 2004	Message Posted: Jan 1, 2013 8:28:44 PM Ignore 1Boog Report Abuse just another scare blog to try and make oil and fuel prices go back up!!
TheHermit Champion Author Maine Posts:3,404 Points:128,230 Joined:May 2012	Message Posted: Jan 1, 2013 8:27:14 PM Ignore TheHermit Report Abuse Forecasts are like butts, everyone has one
fire@53 Champion Author Philadelphia Posts:11,843 Points:2,771,250 Joined:May 2003	Message Posted: Jan 1, 2013 8:27:11 PM Ignore fire@53 Report Abuse The election is over now prices will go up for gas.
5Golfer8 Champion Author Tucson Posts:2,148 Points:302,600 Joined:Jun 2011	Message Posted: Jan 1, 2013 8:26:32 PM Ignore 5Golfer8 Report Abuse And the BS starts.
GasSpy007 Champion Author New York City Posts:1,832 Points:490,275 Joined:Nov 2011	Message Posted: Jan 1, 2013 8:25:44 PM Ignore GasSpy007 Report Abuse ohhhh please.. forecast.. paleeeezzzz...
sit Champion Author Cleveland Posts:5,215 Points:1,934,895 Joined:Feb 2006	Message Posted: Jan 1, 2013 8:24:29 PM Ignore sit Report Abuse Up.
JagXKR Champion Author British Columbia Posts:3,169 Points:1,093,480 Joined:Dec 2009	Message Posted: Jan 1, 2013 8:23:17 PM Ignore JagXKR Report Abuse Predictions are worthless.
savannahoaks Champion Author Rockford Posts:2,707 Points:637,185 Joined:Mar 2011	Message Posted: Jan 1, 2013 8:22:32 PM Ignore savannahoaks Report Abuse Prices will go up, then go down, then go up, then go down, then......
Skychief All-Star Author Florida Posts:730 Points:401,920 Joined:May 2006	Message Posted: Jan 1, 2013 8:20:01 PM Ignore Skychief Report Abuse I have yet to see anybody make an accurate forecast so why bother?
carpenter4u Champion Author Virginia Posts:2,436 Points:617,895 Joined:Jul 2011	Message Posted: Jan 1, 2013 8:18:07 PM Ignore carpenter4u Report Abuse I predict unstable prices
FogCitySpotter Champion Author San Francisco Posts:2,498 Points:523,375 Joined:Apr 2007	Message Posted: Jan 1, 2013 8:17:14 PM Ignore FogCitySpotter Report Abuse A few new refineries would really help to lower gas prices.
dasimon All-Star Author Florida Posts:556 Points:573,050 Joined:Mar 2011	Message Posted: Jan 1, 2013 8:15:40 PM Ignore dasimon Report Abuse Ok