Global Winners and Losers in the Oil Shakeout
Oil analysts were mostly caught flat-footed by the price decline that began to unfold in June of last year, which has become one of six such drops of greater than 30 percent over the past three decades. Oil price forecasting techniques range from the analysis of futures to sophisticated models incorporating a host of economic variables. Of course, none that we have seen is reliable in the sense of offering precise predictions.
Futures Offer Little Certainty In Predicting Oil Prices