Describe how economic trends and conditions would affect sales forecasting in the oil industry

Describe how economic trends and conditions would affect sales forecasting in the oil industry

Describe how economic trends and conditions would affect sales forecasting in the oil industry.

A brief summary, just 2 paragraphs would suffice.

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It is important to scrutinize all economic conditions concerning the oil industry and the consumers. A forecaster has to see the overall financial trends that impact the oil industry positively or negatively. A complete understanding of the political, economic and the overall trend of the oil industry enable build a more accurate forecast (Shanks, 2000).

(152 words)