Goldman Sachs sees lower oil? Well at the start of November they were forecasting WTI at $90 and Brent at $100 for Q1 2015. That was after WTI crude oil already fell to $80.

Chances are, the price of spot is a better indicator than your favorite oil prognosticator, according to the WSJ.

A paper published in 2010, economists Ron Alquist and Lutz Kilian found that simply forecasting no change in oil prices was much more accurate than professional survey forecasts across all time horizons from one month to 12 months out. The no-change forecast also tended to be more accurate than forecasts generated by econometric models and those derived from the prices of oil futures.

Interestingly, the Bank of Canada tried its hand at oil forecasting last week and assumed prices at $60 this year, breaking a long-held tradition of using whatever spot is at to dictate the forecast.

Here was a good oil forecast… FWIW, I think oil is headed lower

;)