Current Forecast of WTI Crude Oil Price
Units: USD per BBL, Average of Month. Not Seasonally Adjusted.
Solid Line = Actual Values. Dashed Line = Predicted Values.
Forecast Values for WTI Crude Oil Price
How This Forecast is Produced
The forecast of the indicator above is produced using Multichannel Singular Spectrum Analysis, or MSSA.
The forecast is made by using MSSA to decompose the time series into a trend component and many cyclical components. The decomposed components of the time series are then projected forward in time.
Crude Oil Price
The crude oil prices above are the average of the daily crude oil prices for WTI paid in the spot market at Cushing, OK. These crude oil referenced is West Texas Intermediate (WTI), a benchmark crude oil price.