Investment bank, Goldman Sachs Group Inc (NYSE:GS) believes that the current excessive oil supply could keep crude oil prices low for the next 15 years. According to the head of commodities research, Jeffrey Currie, there are less than 50% chances that crude oil prices will do go down to $20 per barrel, even at a time when refineries would shut down for maintenance purposes in October and March. On the contrary, Goldman Sachs' long term forecast for crude oil price is $50 per barrel.
Why Goldman Sachs Group Inc (GS) Projects Gloomy US Crude Oil Prices For Next 15 Years
Bidness etc. - 17 Sep 2015 16:39
Investment bank, Goldman Sachs Group Inc (NYSE:GS) believes that the current excessive oil supply could keep crude oil prices low for the next 15 years. According to the head of commodities research, Jeffrey Currie, there are less than 50% chances that crude oil prices will do go down to $20 per barrel, even at a time when refineries would shut down for maintenance purposes in October and March. On the contrary, Goldman Sachs' long term forecast for crude oil price is $50 per barrel.
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