Description

In 2015, the price of crude oil, which was expected to stay above $100 per barrel for the next 5 years, nose-dived and is currently trading around $30 a barrel. This year, Donald Trump, who was dismissed as a complete outsider and someone who would not even stay in the race for US President, is a leading candidate. Although there are ample examples of volatility and unknown risks like the above, companies are still trying to apply existing forecasting analyses to develop short-term strategies. Caught in herd mentality, pump manufacturers often fail to see major events and get caught in reactionary mode. This research analyses 9 such extreme events and their possible impact on pump manufacturers.