Post by
Obscure1 on Sep 07, 2023 2:34pm
Goldman calling for $107 oil by the end of the year
Their target is based upon Russia and Saudi Arabia announcing they would maintain production cuts through the end of the year.
Russia pushes millions of barrels out the back door at a discount so its claims are a joke. Russia is not alone in doing so.
How can anyone believe anything published in the media when it comes to oil and many other things for that matter.
Anyone that believes that an S curve adoption rate of EV's is good for oil is truly delusional.
Anyone that denies that an S curve adoption rate of EV's is already past the tipping point is equally delusional.
The one thing that you can pretty much count on is that Goldman will be doing the opposite of what they are claiming.
Comment by
Experienced on Sep 07, 2023 3:42pm
Obscure - agree with you about Goldman. They have a long history of betting against their clients who follow their advice. One thing for sure is that if they are somehow right in their forecast, the $107 a barrel it would be short-lived since such an oil price would lead to another inflationary spiral and more rate hikes by Central Banks around the world and guarantee a recession.
Comment by
meritmat on Sep 07, 2023 5:21pm
Demand destruction will also happen if your a EV guy you want 100 bbl oil. Then EV look cheap to run. 50 dollar oil and nobody's buying EV