How Can You Find Information on Future Oil Prices?


Quick Answer

While it is not possible to completely predict the future of oil prices, it is possible to learn about potential future trends by reading articles that contain expert opinions on media sources such as Forbes and The Guardian. Similarly, look through past studies of trends and future predictions by agencies such as the United States Energy Information Administration.

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Full Answer

Various media sources such as Forbes, The Guardian and USA Today have published articles that contain expert opinions on the future of oil prices. In one such article by Forbes magazine, the author looks at the correlation between economic growth and crude oil prices over the past 30 years. He then goes on to assume that predictions of future economic growth will help to predict the future of oil cost, and he claims that the current price of a barrel of crude oil will be the ceiling price for the coming years.

While articles such as this seem well researched, it is possible to find similar articles with contradictory conclusions. For this reason, it's important to search for information on future oil prices by looking at peer-reviewed scholarly studies, such as the study done by the U.S. Energy Information Administration. The EIA has future oil price predictions on its website, and it shows the process by which it came to those conclusions.

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