About a year ago Oilpro carried the post History Repeats: Oil Price Food For Thought.
In this post I presented a chart of oil price, in constant dollars, in which I superimposed the price history of the 2004-2013 time period over the 1973-1993 time period. The initial portion of the two time spans were quite similar, and I asked “Do you suppose that the remaining years of the 2000-2025 span will mirror the preceding historical pattern?”
I am submitting herewith an updated chart which goes a long way toward suggesting that the answer to this question may be “Yes”. In this updated chart I have added data points for 2014 and 2015. You will note how closely the extended line follows the 1973-1993 pattern. Is this sufficient evidence of a continuing similarity? If so, you have the makings of a ten year price forecast.