Goldman's Currie Sees High Chance OPEC Will Extend Output Curbs
- With a deal, WTI oil seen trading in $55-$60 a barrel range
- Currie sees backwardation developing in crude market
Currie Says Only Debate In Oil Is Cost of Extraction
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There’s a high probability that OPEC will agree to extend crude production curbs aimed at draining excess global supply, according to Jeff Currie, head of commodities research at Goldman Sachs Group Inc.
On a scale of 1 to 10 the chance of a deal is a 6 or 7, Currie said in an interview on Bloomberg TV. The Organization of Petroleum Exporting Countries is meeting on May 25 to discuss the curbs.