Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Goldman Sachs Group Inc    GS   US38141G1040

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Goldman Sachs Group, Inc. : Goldman Sachs Strategist : Oil Price Could Reach $150/Bbl in Summer

01/17/2013 | 11:01am US/Eastern

By Hans Bentzien

FRANKFURT--The price of oil could reach as much as $150 per barrel this summer, Goldman Sachs chief commodities strategist Jeff Currie said Thursday.

At this year's global strategy conference in Frankfurt, Mr. Currie that he thinks it possible the price may reach $150 a barrel for Brent oil.

He said he wouldn't be surprised "if we woke up in summer and oil cost $150" per barrel.

In December, Goldman's official forecast for 2013 was around $100 a barrel. Brent oil to be delivered in February at present costs $110, while WTI costs $94.

Mr. Currie pointed out that despite the boom in U.S. shale gas, the oil price remains high, which he attributed primarily to sanction-related supply disruptions in Iran.

Trying to compensate for this, Saudi Arabia has already increased its oil production to a 30-year high this year.

At the same time, Mr. Currie added that while global oil demand has increased at a slower pace, it is still higher than the production increases in non-OPEC countries.

Write to Hans Benztien at hans.bentzien@dowjones.com

React to this article
Latest news on GOLDMAN SACHS GROUP INC
03/28 Three Banks That Could Surprise to the Upside
03/28 GOLDMAN SACHS : Oil falls more than $1 as Mideast supply fears ease
03/27 GOLDMAN SACHS : Saudi strikes on Yemen, any Iran deal to have little oil supply ..
03/27 GOLDMAN SACHS : South Korea may cut rates in April or July - Goldman Sachs
03/27 Chevron Plans To Sell 50% Stake In Caltex Australia For Approximately US$3.6 ..
03/27 Goldman climbs to top commodity bank ranking over JP Morgan
03/27DJJPMorgan Joins as Direct Participant in LBMA Gold Price Auction
03/27 Standard Chartered Issued USD2bn Additional Tier 1 Bonds
03/27DJChevron to Sell Caltex Australia Stake -- Update
03/26 JPMorgan retains number one spot in investment banking but revenues slip
Advertisement
Chart
Duration : Period :
Goldman Sachs Group Inc Technical Analysis Chart | GS | US38141G1040 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF