Well, the results are in.
A commentary and link to my 2015 report is located here:
Here is the chart.
|Average price West Texas Intermediate Crude (WTI)||Low Range Average||High Range Average||Mid Range Average||Actual|
My annual forecast was for WTI to be at $50.04. Actual spot price of WTI was $50.94. Historically, this is very typical of my annual forecasts. Even in the collapse of 2009, my forecast was within $2.00 per bbl on the annual average.
In my 3rd Quarter summary, I had huge concerns about the Iran deal. Apparently, now Saudi Arabia has huge problems with Iran as well, severing all diplomatic ties.
I was frankly surprised that the bill to repeal the prohibition on exporting crude oil made it through.
In the 3rd week of January, I will deliver to the readers of this forum my 2016 forecast. I suppose this falls into the category of "putting your money where your mouth is."