Thanks to everyone that entered the competition, the results are in.
The oil price, COB 30th March as shown on the FT website (dated 1st May) was $66.78, as shown above.
The Winner by virtue of closest guess is Uptej TeeJay Srai of PGS, with a guess of $66.86 (off by 8 cents). Next nearest guess’ were from John Kerr with $66.66 (12 cents) and finally Chris Stevens who guessed $67.23 (45 cents).
An Amazon voucher, worth the equivalent of £30, is on its way to the lucky winner. Congratulations!
Statistics from the first Oil Price Prediction Competition (numbers in brackets are with the high and low extremes removed).As you might expect the winning entry was made just a few days in advance of the competition entry deadline and most of the nearest guesses came from entries made close to the deadline.
The spread of guesses makes interesting reading (see the image to the right) – the figures in brackets are the numbers for the spread minus a few anomalous outliers…you know who you are!
From the feedback we have had you enjoyed the opportunity to do what the best commercial and economic minds cannot do and predict the oil price. So, the good news is that due to the success of this inaugural competition we will be running another competition in May, more details to follow.
