IMF revises 2013 oil price forecast up $2.89 to $102.60/b London...

IMF revises 2013 oil price forecast up $2.89 to $102.60/b

London (Platts)--16Apr2013/915 am EDT/1315 GMT


The International Monetary Fund has revised its 2013 oil price forecast upward by $2.89 to $102.60/barrel and expects an average of $97.58/b in 2014.

In its latest World Economic Outlook, released Tuesday, the IMF said oil prices remained "an important source of downside risk, in view of elevated geopolitical tensions."

In its latest Outlook, the agency said the oil price -- which it calculates as a simple average of Brent, Dubai and West Texas Intermediate -- had averaged $105.01/b in 2012.

The IMF said the near-term outlook for commodities, as reflected in futures prices, showed broad declines across all main commodity groups, including oil.


http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/26856098

Nidos market cap is worth almost one year Production profit when Galoc 2 is completed, provided the present Management dont destoy the company.
Current share price appears to be reflecting the markets lack of confidence in the MD. On top of this the oil price spook.
Look at the bright side, there may be some bargains appearing on the market now -especcially the oil sector.

Still holding and hoping. Also can see some of you are doing a good job at keeping the management honest.
For this I appreciate, thanks!
I hope oil will be arount $90- 100 next year and NIDOs share price should be at least 4 times todays price.


Chass