Outlook
Oil Market Faces Production Issue in 2024, Goldman’s Currie Says
- Analyst sees oil rising above $100 a barrel this year
- Says erosion of production capacity is a “serious problem”
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Oil will rise back above $100 a barrel this year and may face a serious supply problem in 2024 as spare production capacity runs out, according to Goldman Sachs Group Inc.
With sanctions likely to cause Russian oil exports to drop and Chinese demand expected to recover as the country ends its Covid Zero policy, prices will rise above $100 from their current level of around $80, according to Goldman.