I am surprised at many people who do not understand what the price of oil is.
I see comments all the time on this board saying things like, "WOOHOO!!!! The price of oil is up over $53.00 today!!!!!!!!!!!!!!!!!!!!!!!"
West Texas Intermediate has not sold for even $50.00 per barrel in the spot market this year.
How uninformative a statement could you possibly make? If the statement was "West Texas Intermediate futures for April delivery closed up $0.75 to close at $53.22" then actual constructive information was given.
If you want to know the price of oil, look at your check stub for production. If you want to compare the average price that you received to SemCrude posted prices, go to
http://crudeoilpostings.semgroupcorp.com/
If you want to follow futures pricing, go here:
In January, I wrote a report on the oil price collapse of 2014 and my future estimation of WTI for 2015.
That report is located here:
http://www.mineralrightsforum.com/forum/topics/2015-oil-pricing-forecast
The chart included in the report is as follows:
Average price West Texas Intermediate Crude (WTI) |
Low Range Average |
High Range Average |
Mid Range Average |
Q1 2015 |
$36.47 |
$56.47 |
$47.47 |
Q2 2015 |
$38.01 |
$58.01 |
$48.84 |
Q3 2015 |
$40.38 |
$60.38 |
$51.00 |
Q4 2015 |
$42.28 |
$62.31 |
$52.83 |
As of March 29, 2015, the Q1 average for WTI at the refinery tailgate averaged $41.7197, falling almost halfway between the Low-Range Average and the Mid-Range Average that was predicted in January, 2015.
On April 1, 2015, I will begin writing a modified report to take into account production, storage and geopolitical climates based on events of the events of Q1 and my modified (if any) prediction of future prices of hydrocarbons. I do this every quarter for my major clients and will share them with you.
Best,
Buddy Cotten