Q4 Oil Price Targets

Below we highlight strategist price targets for oil in the fourth quarter of 2008.  Goldman Sachs has been making news today with the reiteration of their $150 oil call, and as shown below, they're currently the most bullish strategist amongst participants in Bloomberg's strategist survey. 

Overall, 24 out of 31 have a price target greater than the current price of oil, but it's important to note that these targets were all upped right as oil was peaking.  The average price target for Q4 is $121, while the median is $125.

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Comments

[BrotherMaynard:]

If oil is so dear, who is there a vacuum of m&a?

2008 Aug 20 05:03 PM

[Gigem77:]

Hey! they left out Jason Schwarz' prediction of 30 dollars. That's discrimination against SA.

2008 Aug 20 05:24 PM

[DrT:]

I think Jason jumped out a window after today's price action.

2008 Aug 20 08:51 PM

[Alan von Al...:]

A first floor window, hit beach sand.

2008 Aug 21 12:45 AM

[john s. gordon:]

the randomness of this data reminds me of the graphs we used to do in school, we called them fly shit on a screen door.
> jack

2008 Aug 21 08:16 AM

[Timothy Stolz:]

All of the best minds put together in one room could only make a "best guess" as to what Q4 holds, but at least SA has given us some numbers to talk about.
I am concerned about the aftermath of the November elections as it might or might not relate to the Iran nuclear issue and the price of oil. We could easily see $125 per barrel change to $250 per barrel overnight. I certainly hope that does not happen.
My best guess is that the above sample represents "as good a guess" as anybody else has right now, so go with it at $125.

2008 Aug 21 10:09 PM

[Kunst:]

It would be interesting to know how accurate these prognosticators have been over the last year.

Opinions are like belly buttons. Everybody has one, but they aren't all that useful.

2008 Aug 22 10:53 PM