OPEC Cuts to Push Oil Prices Into $90 Range This Year, Goldman’s Currie Says
- Investor interest in oil has waned, Currie says in interview
- Decline in inventories likely to bring back investors to oil
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The latest OPEC production cuts will prompt a draw in oil inventories, sending prices into the low $90s, Goldman Sachs Group Inc.’s Global Head of Commodities Research Jeffrey Currie said in a Bloomberg TV interview.
“You’re going to be seeing substantial physical inventory draws because of these OPEC production cuts, particularly in the third and fourth quarter,” he said. “That’s going to push us up into the low $90s.”