Chart labels contain following information: crude oil price forecast in US dollars per barrel, commodity analyst organization and the year/month when forecast was published by the analyst).

Crude Oil Price Forecast Chart 2009

Crude Oil Price Forecast Chart 2010

Crude Oil Price Forecast Chart 2011

Crude Oil Price Forecast Chart 2012

Crude Oil Price Forecast News

2009/10 – Deutsche Bank – raised 2010 oil price forecast by $10 To $65 a barrel on higher demand, a weaker U.S. dollar and continuing OPEC discipline Forecast source…

2009/10 – World Bank: Oil prices are expected to average $63 next year, from $55.5 this year, the World Bank said in a report on the Middle East and North Africa. Those prices are sufficient to avoid a major crisis in oil-producing countries, but much lower than the boom of 2008, according to the World Banks’ ‘Economic Develop-ment and Prospects’ report. Forecast source…

2009/09 J.P. Morgan raised its forecast for 2010 oil prices by $1 a barrel to $68.75 and by $5 a barrel to $70 for Q4 2009. “We continue to expect prices to remain range bound…we think OPEC will continue to produce, limiting our upside risk and as such, we’ve only made a only modest upward revision our price (forecast)”. Forecast source…

2009/09 – Barclays said it expects crude to average $76 a barrel in the fourth quarter and $85 next year. Forecast source…

2009/09 – Morgan Stanley has raised its forecast of US crude oil price to $105 a barrel in 2012 from $95 due to tightening spare capacity. Forecast source…

2009/08 – EIA expects the price of WTI crude oil to stay roughly flat at an average of $70 per barrel in the fourth quarter of 2009, an increase of about $27 compared with the average for the first quarter of the year. The WTI spot price is projected to rise slowly as economic conditions improve, to an average of about $72 per barrel in 2010. Forecast source…

2009/08 – Russian Government likely to increase crude oil price forecast from $55 to $58 as input to 2010 budget. Forecast source…

2009/08 – Bernstein & Co. raised its 2009 oil price forecast by $5 to $60 a barrel and said prices at $80 a barrel next year will probably help producers maintain or raise dividend payments. Forecast source…

2009/08 – Commerzbank cuts 2010 oil forecast on CFTC stance – sees oil price averaging $50 in Q4 2009, $55 in 2010 expecting that increased regulation will push prices lower. Commerzbank lowered its average 2010 oil price forecast to $55 a barrel from $75 a barrel, as the bank believes tighter regulation of energy markets will push financial investors out of the market.
Forecast source…

2009/07 – Merrill Lynch increased its crude oil price forecast due to dollar inflation, improving global liquidity, tighter than expected oil market balance, robust emerging market demand outlook. Crude oil price forecast for 2009 – increased to $58.50 a barrel from $52, while for 2010 – increased to $75 in 2010 from $62. Forecast source…

2009/07 – Australia Government (Australian Bureau of Agricultural and Resource Economics – ABARE) raised its crude oil price forecast for 2010 to $70 per barrel from $51. Forecast source…

2009/07 – Morgan Stanley revised up its 2010 U.S. crude oil price forecast for 2010 to $85 a barrel (from $65) and for 2011 to $95 (from $85) on expectations of an improving economic outlook, supply concerns and a weaker U.S. dollar. Forecast source…