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Crude Oil Price Forecast

August 6th, 2016

FFC is forecasting the price of crude oil to be $42.80/bbl for August 2016, down from an average price of $44.65/bbl in July 2016.  The price of crude oil is projected to trend down in the near term due to falling seasonal demand.

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


Crude Oil Price Forecast Values

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

Month Date Forecast Value Error
0 Jul 2016 44.65 ±0.0
1 Aug 2016 42.8 ±1.9
2 Sep 2016 41.8 ±2.4
3 Oct 2016 40.0 ±2.7
4 Nov 2016 37.4 ±3.0
5 Dec 2016 34.2 ±3.2
6 Jan 2017 34.9 ±3.4

Updated Aug 2016

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Crude Oil Price Chart with Current Prediction

West Texas Intermediate.  US Dollars per barrel.

Chart of Crude Oil Prices with Forecast

Did you know?  BBL stands for blue barrel, a standard 42 gallon oil barrel set by Standard Oil Company, the predecessor of Exxon.

Other Commodity Price Links of Interest:

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Current Economic Indicators
August 25, 2016 (Close of Day)
Indicator Value
S&P 500 2,172.47
US GDP Growth, % 1.23
US Inflation Rate, % 0.84
US Unemployment Rate, % 4.9
Gold Price, $/oz 1,321.30
WTI Oil Price, $/bbl 47.33
US 10 Yr Treasury, % 1.58