Goldman Sees Risk of Oil Below $20
- Capacity to store crude `breached' in some parts of world
- Volatility to `spike' as market seeks price for rebalancing
Goldman’s Currie Expects Oil Volatility to Go Higher
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Oil could drop below $20 a barrel as the search for a level that brings supply and demand back into balance makes prices even more volatile, Goldman Sachs Group Inc. predicted.
With capacity to store oil exhausted in some places, prices may need to drop low enough to halt crude output that can no longer be stockpiled, said Jeff Currie, Goldman’s head of commodities research.