The Long & Short of It: A Bull’s Case for Oil

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The investment case for oil remains intact through year-end amid rising trade tensions and shrinking global inventories, according to Goldman Sachs Research’s Jeff Currie. “The pillars behind our bullish outlook remain the same,” Currie says, noting that he expects prices to rise over $80/barrel this summer due to growing global demand, supply disruptions among key OPEC producers and constraints in US shale production. However, Currie remains committed to the New Oil Order— the idea that shale is a technological revolution that will keep prices anchored longer-term.

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