What's up people? So I found a very unusual estimation task about oil prices. However, it refers to the past:
"Estimate the change in the price of oil in the year 2000 from today’s price. Will it increase or will it decrease?" (No more information provided)
What could a possible structure look like? I tried with demand and supply as well as with global economy welfare but can't come up with something that makes sense.
Hi,
I would split into buckets and try to understand a trend in each of them:
Demand
Supply
Externalities
Best!
Hello!
Agree with Vlad´s framework of doing the overal Supply-demand and breaking it into little pieces -altough it has the risk of not being MECE, but it´s very complicated not to be so here-.
I would add in the external factors some more such as (1) international trading tensions/conflicts or (2) wars -that affect not only the supplying regions but also the transport, or any other political factor that can make a difference.
Hope it helps!
Cheers,
Clara
