Sunday, Dec 14, 2008
Goldman, Once Warning of $200 Oil, Sees $45 in 2009
cnbc: Goldman Sachs' energy equity research team, which predicted a crude oil spike to $200 a barrel earlier this year, slashed on Friday its 2009 forecast to just $45 as demand deteriorates.
We expect that an additional 2 million barrels per day (bpd) of OPEC supply cuts will be required in 2009, along with a 600,000 bpd reduction in Non-OPEC production, in order to rebalance the market," the team led by Jeffrey Currie wrote
Posted by chris @ 04:25 AM (135 views) Add Comment
1 Comment
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1. mken said...
"Goldman Sachs' energy equity research team"
Highly paid analysts - following market developments they're paid to predict.
Worse, what they say is printed every time.
Worse still we buy and read it.
Your cat could do better.