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

Author: Eamonn Sheridan | Category: News

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.

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