Crude Oil Price Forecast | WTI
Below is a forecast of WTI crude oil prices, broken down by month. This forecast is produced based on prior values of Brent and WTI crude oil prices along with other factors such as commodity prices, interest rates, currency exchange rates, and economic indicators. To learn more about how this forecast is produced, please see our methodology page.
Crude Oil Price Forecast Values by Month
Crude Oil (Light Sweet) Prices. USD/bbl. Average of Month.
| Month | Date | Forecast Value | Avg Error |
|---|---|---|---|
| 0 | May 2023 | 71.60 | ±0.00 |
| 1 | Jun 2023 | 69.1 | ±2.7 |
| 2 | Jul 2023 | 71.9 | ±3.6 |
| 3 | Aug 2023 | 69.4 | ±4.1 |
| 4 | Sep 2023 | 66.8 | ±4.5 |
| 5 | Oct 2023 | 64.6 | ±4.8 |
| 6 | Nov 2023 | 63.3 | ±5.0 |
| 7 | Dec 2023 | 62.7 | ±5.2 |
| 8 | Jan 2024 | 62.1 | ±5.4 |
Get the Rest of the Story with the 5 Year Forecast!
Chart of Crude Oil Prices with Forecast
US Dollars per BBL. Includes Predicted Values.
Other Crude Oil Price Resources
FFC's Long Range Crude Oil Price Forecast
A 5 year forecast for WTI crude oil prices and similar economic series are available by subscription. Click here for more information about FFC's Extended Forecasts.
| June 06, 2023 | |
| Indicator | Value |
|---|---|
| S&P 500 | 4283.85 |
| U.S. GDP Growth, YoY % | 1.62 |
| U.S. Inflation Rate, % | 4.93 |
| Gold Price, $/oz-t | 1963.33 |
| Crude Oil Futures, $/bbl | 71.74 |
| U.S. 10 Year Treasury, % | 3.70 |