Goldman Sachs says global oil market is set to `rally significantly'

Goldman Sachs on oil, 'growing scarcity'.

• If oil hits $80/bbl, "it would be hard to ignore inflation in the most important physical commodity markets."
• "We see the oil as the catalyst this autumn to attract investors back."
• There is now "growing scarcity across physical markets," with demand at such high levels, the system is becoming increasingly constrained in its ability supply goods.
• Given the run-down in inventories, demand destruction is already happening today to balance the market.