Goldman Sees 15 Years of Weak Crude as $20 U.S Oil Looms
- Prices may drop to $20 when refineries shut in October, March
- Analyst Currie says bank's long-term forecast for crude at $50
Oil Price: Why the Big Discrepancy Between Goldman, OPEC
This article is for subscribers only.
A glut of crude may keep oil prices low for the next 15 years, according to Goldman Sachs Group Inc.
There’s less than a 50 percent chance that prices will drop to $20 a barrel, most likely when refineries shut in October or March for maintenance, Jeffrey Currie, head of commodities research at the bank, said Wednesday in an interview in Lake Louise, Alberta. Goldman’s long-term forecast for crude is at $50 a barrel, he said.