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4-Traders Homepage  >  Equities  >  Nyse  >  Goldman Sachs Group    GS

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

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01/17/2013 | 05:01pm CEST

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 [email protected]

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Financials ($)
Sales 2017 31 752 M
EBIT 2017 10 985 M
Net income 2017 7 677 M
Debt 2017 -
Yield 2017 1,21%
P/E ratio 2017 12,95
P/E ratio 2018 12,14
Capi. / Sales 2017 2,95x
Capi. / Sales 2018 2,88x
Capitalization 93 635 M
Chart GOLDMAN SACHS GROUP
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Goldman Sachs Group Technical Analysis Chart | GS | US38141G1040 | 4-Traders
Technical analysis trends GOLDMAN SACHS GROUP
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus HOLD
Number of Analysts 28
Average target price 244 $
Spread / Average Target 0,96%
EPS Revisions
Managers
NameTitle
Lloyd Craig Blankfein Chairman & Chief Executive Officer
Harvey Mitchell Schwartz Co-President & Co-Chief Operating Officer
David Michael Solomon Co-President & Co-Chief Operating Officer
R. Martin Chavez Chief Financial Officer & Executive VP
James A. Johnson Independent Director
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