Goldman Sachs Warns Oil to $95 by EoY

This is the highest estimate I have seen from a major bank for end-of-year crude oil prices:

The key Middle Eastern members of oil cartel OPEC are under pressure
for an increase in production after a warning from Goldman Sachs that
prices could hit a peak of $95 a barrel by the end of the year.

Goldman Sachs said in a research note oil prices could reach $90 a
barrel this autumn and $95 a barrel by the end of the year if the
Organization of the Petroleum Exporting Countries does not ease
production cuts that have helped tighten global markets.

[via RTE Business]

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Comments

  1. I don’t put too much stock in this – Goldman has yet to be right so far concerning oil prices in the last several years.

  2. i listen to goldman they’re a money machine and they know what they’re doing, as does T. Boone Pickens, Richard Rainwater, and John Arnold of Centaurus all hugely successful investors and all long Crude Oil (w/ occasional short forays) but overall bullish, w/ actual real scientific evidence of oil depletion ie not crack-pot whacko stuff —i think goldman is right—if not that price then close, if not that time frame than close, as Richard Rainwater said (to paraphrase) whatever you do get long domestic oil — quality domestic oil investments are where its at, don’t believe the genreal public has realize that we may not see $50 oil again—aside from occasional spikes down—ie the retail investing public hasn’t got into this has an investment yet at all—when that starts to happen look out above! pk

  3. donv says:

    Of course, didn’t Goldman predict $105 oil last year?