Monday, October 26, 2015

Price of WTI Oil for 2016

It's been some time since I have posted, and several years since I dared to make a prediction regarding the price of oil.

My last forecast was for 2012, and I thought oil we be around $100.00 a barrel.  That prediction was a little high, but not by much.

Now that oil has dropped down to half of that,  I will go out on a limb and say that for 2016, the WTI Oil price will be around $60.00 a barrel.

It's been in the $50.00 range for most of 2015, and it really should hang around that or even lower, as no one seems to be halting production.    But, I just feel it in my bones that it's going to inch up a bit.

Now, as for predictions for the shipping industry for 2016,  I will have to put on my "thinking cap" for a bit.



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