Goldman Sachs: Talk of $100 Oil 'Premature'

LONDON (Dow Jones), Jan. 18, 2010

Talk of $100 a barrel oil prices is "premature" given the collapse in oil demand in developed economies, said Goldman Sachs' head of commodities research Monday.

Jeffrey Currie forecast global oil demand wouldn't return to pre-recession levels until the third quarter, and said there is little evidence that mature economies have recovered from recession.

While the price outlook for this year was "blase," upward price pressure could return in the coming years as underinvestment restricts supply growth, he said.

In 2011 and 2012, it "becomes a really tight market," Currie said at Goldman Sachs' Global Strategy Conference.

Copyright (c) 2010 Dow Jones & Company, Inc.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Channel Development Manager Job
Expertise: Business Development|Sales
Location: Minneapolis, MN
 
Pipeline Sales Representative 2
Expertise: Sales
Location: Washington, PA
 
US Denver: Trade Finance Specialist
Expertise: Energy / Commodity Trading|Financial Analyst
Location: Denver, CO
 
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours