Nouriel Roubini

Oil prices will rise gradually from about $57 (WTI) over the 18 months to end-2016.

“I think that, over the next year and a half, gradually all [oil] prices are going to go higher.”

Said on

28 April 2015 · Bloomberg TV interview, excerpted by NYU Stern; he added prices "might" be closer to $70 by end-2016

Source

Prof. Nouriel Roubini shares his predictions for oil prices · NYU Stern / Bloomberg

Should come true

2016

How sure they sounded

I think ... are going to

Categories

EnergyMarkets

Importance

3 of 5 · Oil prices matter to the global economy and energy industry.

Outcome

Inaccurate

Oil did not rise gradually: WTI fell from about $57 in late April 2015 to about $26 in February 2016 and ended 2016 near $54, below where it was when he spoke and far from the $70 he suggested.

Evidence:

• https://www.eia.gov/dnav/pet/hist/RWTCD.htm
• https://www.eia.gov/dnav/pet/hist/RBRTED.htm