Goldman Sachs global head of commodities sticking with $115 price target for 2023 (video) | Forexlive
This is via Bloomberg, an interview with Jeffrey Currie, global head of commodities research at Goldman Sachs.
A couple of points made, more at the vid:
- between now and next spring … path is highly uncertain
- you have China covid cases surging so you’re getting forced lockdowns that were not planned which is impacting demand up to about 1.2 million barrels per day … coincidentally the same size as the OPEC cut so you know I think that’s important development there first time ever OPEC ever cut in anticipation of a demand loss
- and then you have the G7 price cap which just they keep rolling the dial and it gets milder and milder every day