suggest that oil futures prices have marginal predictive power for the price of oil at a 1-month forecast horizon. However …, they generally lose their forecasting power at higher forecast horizons. The results also suggest that exchange rates help … predicting oil prices at higher forecast horizons. The paper also considers forecast averaging and variable selection methods …

produce accurate forecast based on a description of history patterns in crude oil prices …

This paper explores a range of different forecast methods for Brent oil prices and analyses their performance relative … across forecast horizons. To address this instability, we propose a forecast combination for predicting quarterly real Brent … generates forecasts whose performance is robust over time. The improvements in forecast accuracy and stability are noticeable in …

has implications for the estimation of economic models of energy-intensive durables, for oil price forecasting, and for …

The relevance of oil in the world economy explains why considerable effort has been devoted to the development of … dynamic forecasts, as well as different measures of forecast errors. Finally, we propose a new class of models which combine …

much the forecast would change relative to the baseline forecast under alternative scenarios about future oil demand and … evaluating the risks underlying these forecasts. We show how policy-relevant forecast scenarios can be constructed from recently … to these scenarios affect the upside and downside risks embodied in the baseline real-time oil price forecast. Such risk …

-time forecasts of the real price of oil can be more accurate than the no-change forecast at horizons up to one year. In some cases … prices, forecasts based on AR and ARMA models, and the no-change forecast. In addition, these VAR models have consistently … forecasters to interpret their oil price forecast in light of economic models and to evaluate its sensitivity to alternative …