Member access

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

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll 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

Latest news on GOLDMAN SACHS GROUP INC
2h ago GOLDMAN SACHS : UBS hires new head of Euro rates trading from hedge fund
3h ago GOOGLE 'C' : CORPORATE RESPONSIBILITY: Don't be evil, tech giants. Pay your taxe..
1d agoDJTwo China Property Stocks To Avoid Now -- Barron's Asia
1d ago GOLDMAN SACHS : HCC Named Houston Community Partner of the Year
1d ago Special Report - Why Madrid's poor fear Goldman Sachs and Blackstone
1d ago SPECIAL REPORT : Why Madrid's poor fear Goldman Sachs and Blackstone
2d ago GOLDMAN SACHS : Financial Statements and Exhibits (form 8-K)
2d ago Credit Suisse flags more investment bank cuts
2d ago GOLDMAN SACHS : Advanced Emissions Solutions Provides Operations Update
2d ago EXCLUSIVE : U.S. stock options markets agree to need for trading halts on big mo..
Advertisement
Chart
Duration : Period :
Goldman Sachs Group Inc Technical Analysis Chart | GS | US38141G1040 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF