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Crude Oil Price Forecast for 2015 2016

November 10, 2015

FFC is forecasting the price of WTI crude oil to be $42.90/bbl for November 2015, down from an average price of $42.22/bbl in October 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 may 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. USD/bbl. Average of Month.

Month Date Forecast Value Error
0 Oct 2015 46.22 ±0.0
1 Nov 2015 42.9 ±1.9
2 Dec 2015 38.7 ±2.4
3 Jan 2016 34.1 ±2.7
4 Feb 2016 30.6 ±3.0
5 Mar 2016 28.4 ±3.2
6 Apr 2016 27.3 ±3.4

Updated Nov 2015

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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

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Current Economic Indicators
November 24, 2015 (Close of Day)
Indicator Value
S&P 500 2,089.14
US GDP Growth, % 2.17
US Inflation Rate, % 0.17
US Unemployment Rate, % 5.0
Gold Price, $/oz 1,076.40
WTI Oil Price, $/bbl 42.65
US 10 Yr Treasury, % 2.24