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
05:22pDJGoldman Sachs Says Its Specialty Lender Will Be Listed on NYSE as GSBD
10:05a GOLDMAN SACHS : Elite Executive Adviser Geoff Blades of Wall Street Teach Now Ac..
06:31a GOLDMAN SACHS : Brennan Investment Group Acquires Industrial Building in Lake Fo..
03/03DJJANET YELLEN : Yellen Says Effective Supervision One of Fed's Top Priorities
03/03DJCitigroup Deal Shrinks the Bank's Umbrella
03/03DJGoldman Cuts Investment Banking Staff In Singapore
03/03 Overstock's Market-Rigging Case to Proceed; California Supreme Court Decision..
03/03DJGOLDMAN SACHS : Cuts A Third Of Investment Banking Staff In Singapore - Source
03/03 Delisting and cancellation of Salamander shares
03/03 GOLDMAN SACHS : MacShane in comeback bid as author
Advertisement
Chart
Duration : Period :
Goldman Sachs Group Inc Technical Analysis Chart | GS | US38141G1040 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF