GS commodity research right on (for the last three months)

Via Green Sheet, Goldman Sachs has had a great few months predicting oil prices:


I personally try not to follow crude prices too closely, as I think it's very easy to get caught up in day-to-day noise which makes it harder to follow the big picture. And while GS's recent track record looks impressive, as the disclaimer goes, "past performance does not guarantee future results." Although in this case it might, if we allow "past performance" to look back 15 months.