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- Companies hire econometricians and other market experts to predict the oil market. These professionals use mathematical models, focusing on financials using spot and future prices or supply and demand considerations.
www.investopedia.com/articles/investing/101215/how-do-companies-forecast-oil-prices.asp
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How do businesses forecast crude oil prices?
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Jan 9, 2024 · Businesses and investors employ various ways to make predictions of oil prices. Futures pricing, supply and demand models, and non-linear methods may be used to forecast pricing.
Brent crude oil prices are forecast using futures data from the International Commodities Exchange (ICE), which extends seven years into the future. Other International crude oil prices—such as the OPEC Basket, Venezuelan, Nigerian, Mexican, Russian, and Indonesian crudes—are based on historical differentials to Brent crude oil.
Aug 16, 2023 · Crude oil prices are driven by global supply and demand. Economic growth is one of the biggest factors affecting petroleum product—and therefore crude oil—demand. Growing economies mean a higher demand for energy, in general, especially for transporting goods from producers to consumers.
Jul 19, 2023 · We forecast higher crude oil prices in the second half of 2023 and into 2024 in our latest Short-Term Energy Outlook (STEO) because of moderate but persistent inventory drawdowns. Inventory drawdowns take place when demand for a commodity is greater than the supply of that commodity.
Nov 2, 2023 · Overall, J.P. Morgan Research estimates that global oil markets could face a 1.1 mbd deficit in 2025, widening to 7.1 mbd in 2030. Consequently, oil prices could spike to $150/bbl over the near to medium term and $100/bbl over the long term — above J.P. Morgan Research’s $80/bbl long-term forecast.
- J.P. Morgan
Feb 26, 2021 · COVID-19 sent shocks through global oil markets, with oil demand and supply still struggling to return to pre-pandemic levels. Our outlook looks back at 2020 and presents our most-likely scenarios for oil demand, supply, and prices through 2040.
We describe the seven key factors that could influence oil markets and explore possible links between each factor and crude oil prices. We include regularly updated graphs that depict aspects of those relationships.
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related to: How do businesses forecast crude oil prices?Predict future oil and gas production using data from offset wells with Auto-Proximity. Probabilistic multi-segment P10, P50, and P90 type curves.
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Access S&P Oil & Gas Exploration & Production. Bull & Bear ETFs. Learn more. Access S&P Oil & Gas Exploration & Production. Challenge the Old Buy and Hold.
