Crude Oil Price on June 2, 2008

• 50%
  accuracy

(hide summary▲)

On May 20, oil hit a new high of $129 a barrel and prices are set to hit $150 this year as concern grew over Opec's consistent refusal to lift supplies to counter growing demand.

Boone Pickens, a hedge fund manager, said today that oil will reach $150 a barrel in 2008, echoing a forecast released by Goldman Sachs last week that predicted prices will hit $141 in the second half of the year.

It emerged on May 19 that Opec, the 13 country cartel that produces 40% of the world's oil, would not increase production prior to a meeting in September despite rising demand for fuel, especially from crisis hit regions such as China.

Community Prediction in Chance

Community Accuracy:  50%

Top Predictor:   zoomolp (83% Accuracy)

(show accuracy distribution▼)

Rank Accuracy A >= 90% B >= 80% C >= 70% D >= 60% E >= 40% F < 40%

You need to upgrade your Flash Player

	ZiiValue (chance)	Answer	MyValue (0% to 100% chance)	Possible Outcomes
	29%			> $140
	38%			$130 - $140
	23%			$120 - $130
	9%			$110 - $120
	2%			< $110

STEP 2:  Comment

Submit Prediction Cancel