Short-Term Forecast for the World Oil Price
Sources: History: EIA; Projections: Short-Term Energy Outlook, August 2000.
Notes:
Our forecast has prices declining, but still at close to the early 1997 prices by the end of 2001. This is based on relatively low demand growth caused by higher oil prices, and increased oil supply.
Our recent oil price forecasts may have been off in timing and severity, but we did forecast $25 oil prices sometime in 2000 back last August. We just thought it would take longer and not shoot right past $25 and reach $30+.
So, take our forecast as more descriptive than exact ...