The forecast price of oil

Further to my views on Alex Gallagher’s claim that the SNP should apologise for getting the price of oil wrong, the following diagram, giving the forecasts of various luminaries such as the World Bank, OECD, IMF etc, shows that a lot more people should be apologising. Only one of the estimates is even anywhere like the current price, and that is EIA’s “low estimate”, while their high estimate would have it up at $100 more than it actually is today. Even a cursory glance shows that the dominant view was somewhere around $100.


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