Goldman Sachs once again changing their forecast--should be extremely bullish for oil now. Last washout chance to buy cheap. Expect to see higher oil prices starting this week with inventory draws and for the remainder of the summer. Why Goldman Sachs Is Wrong on $20 Oil Prediction - TheStreet Goldman's Hopeful Oil Call - Bloomberg Gadfly - Bloomberg.com Kicking oil when it's down: Goldman Sachs' price outlook 'late to the ... Oppenheimer issued a note Thursday arguing that oil is looking for a "new normal" price around $65 to $75 a barrel. But on the way to making its point, the firm also took a shot at Goldman Sachs' history of getting calls on the price of oil wrong. On Thursday, Oppenheimer wrote (emphasis ours): We dismiss the $20 oil scenario, as we dismissed the $200 oil view in 2008 both came from the same source. We think oil prices will remain lower for longer, until the objectives behind the collapse are met, and we don't see this happening any time soon. We think the market is still searching for the new normal, which is not $50 and is not $100 either, but more likely in the $65-$75 range.