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Crude Oil Price Forecast

January 8, 2016

FFC is forecasting the price of WTI crude oil to be $34.10/bbl for January 2016, down from an average price of $37.19/bbl in December 2015.  The projected trend over the next six months is down.  Crude oil continues to trend down along with other commodities such as gold and industrial metals.

Crude oil prices will continue down due to relatively high oil production, slowing global oil demand, falling seasonal demand, and falling financial demand (futures).

The forecast below breaks down the predicted average price by month.


Crude Oil Price Forecast Values

West Texas Intermediate Oil. USD/bbl. Average of Month.

Month Date Forecast Value Error
0 Jan 2016 31.68 ±0.0
1 Feb 2016 26.6 ±1.9
2 Mar 2016 23.5 ±2.4
3 Apr 2016 21.7 ±2.7
4 May 2016 20.7 ±3.0
5 Jun 2016 20.0 ±3.2
6 Jul 2016 19.2 ±3.4

Updated Feb 2016

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Chart of Crude Oil Prices with Current Prediction

West Texas Intermediate.  US Dollars per barrel.

Chart of Crude Oil Prices with Forecast

Other Commodity Price Links of Interest:

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Current Economic Indicators
February 04, 2016 (Close of Day)
Indicator Value
S&P 500 1,915.45
US GDP Growth, % 1.80
US Inflation Rate, % 0.73
US Unemployment Rate, % 5.0
Gold Price, $/oz 1,156.35
WTI Oil Price, $/bbl 31.72
US 10 Yr Treasury, % 1.87