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Tom Kloza’s Top 10 Predictions for 2007 Oil Markets

Tom Kloza, OPIS analyst extraordinaire, makes 10 predictions for the coming year. (This is our synopsis, so please click on the link read all of his good stuff.)

1. Gas prices to move higher 2/15 to about May, but not as high as the past two years. Average US retail $2.50-$2.80/gal. on this move.

2. US to see $70/bbl crude oil this year, and that before we ever see $50/bbl, but may see both in 2007.

3. National average for retail unleaded to stay below the record $3.057/gal. in 2007.

4. Spring 2007 to bring out the “talking heads” predicting $100/bbl crude and $4 gasoline as we get the typical springtime rise in prices.

5. CA, WA, OR & HI will see $3/gal ave. unleaded, but not that high east of the Rockies.

6. Congress to hold hearings on price gouging.

7. Ethanol to see its US market share grow.

8. Any hint of recession changes everything, and it will be really bad.

9. Diesel fuel to be the highest growth product. Look for $0.20-$0.40 more than gasoline at the pump.

10. Summer 2007 to see hurricane rallies, but will give all back once traders think the season is over.

3 Responses to “Tom Kloza’s Top 10 Predictions for 2007 Oil Markets”

  1. Pumps » Gas Prices Go Higher on West Coast Says:

    [...] Did Tom Kloza of OPIS have it right or not? To start the year he posted 10 predictions for 2007 on his blog, Speaking of Oil. #5 said that CA, WA, OR & HI would be seeing $3/gal gas, but not quite so bad east of the Rockies (our synopsis). [...]

  2. Jim Wessel Says:

    Of your 2007 top 10 predictions, you had:
    3 right on target
    2 partially on target
    4 totally missed or wrong
    and 1 (#8) that was delayed or not happened yet

    Nice try though.

    Jim Wessel

  3. John Daugharty Says:

    Someone please muzzle this Anal-ist! People like Tom Kloza are the ruination of America, as he now predicts gas up 30% because of a tropical storm!!! Katrina did not affect any oil rigs, so why does this ANAL ist have diahrea of the mouth. Fire this idiot.

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