Crude Oil Pricing Forecast Index (OPF Index)

Have you ever wondered what the price of oil would be in the future?
Of course you have! Especially in the current market.

 

How could you plan for the future?
You could consult your magic 8-ball; you could follow your ‘gut’; you could run complex production and demand models; or you could hire a consulting firm; but most of us look outside for what market experts are forecasting.

What are Wall Street traders betting on?
What are bankers, consultants and government entities forecasting?
Where do you begin?
How many different sources should you consult?
Who should you trust and why?
How do you reconcile discrepancies between forecasters?

Is there an answer to all these questions?

As you can imagine by now, the answer is YES!

The Crude Oil Pricing Forecast Index (OPF Index) is the remarkably simple tool designed to answer all those questions.

The OPF Index does all the data aggregation from thousands of sources, qualifies their predictions, ranks their past accuracy and presents a single unified weighted index made up of thousands of predictions from hundreds of forecasters.

The result?
A forecasting index that has proven to be more accurate than any single forecaster in predicting the future price of oil.

 

OPF Index Dashboard

Our new OPF Index is a revolutionary simple, and powerful application that allows users to review and interpret thousands of oil pricing forecast predictions (Brent & WTI) from hundreds of trusted forecasting entities in one simple platform.

Crowdsourcing Oil Pricing Forecasts

The OPF Index proves that a unified ‘index’ will be more accurate in forecasting prices than a single forecaster on its own. And as such, this index has also proven to be more accurate in predicting crude oil prices than any single forecaster.

The Process

The OPF Index is not based on supply/demand models. The Index aggregates all current and historical public domain forecaster's oil price predictions going back to 2013. It then utilizes complex algorithms to simultaneously look for patterns, track records and actual oil prices throughout time, thereby ranking forecasts based on forecaster’s success rates and recency of each forecast. The result is a simple weight-ed index representing a unified consensus for oil prices in the future.

Functionality

• Chart crude oil pricing forecasts (Brent, WTI, or Global Average)
• Compare forecasters vs each other or vs the OPF Index

• Look up specific predictions by forecasters

• Rank forecasters by accuracy record
• Download charts
• Download table into MS Excel 

Click Here for a comprehensive User Manual