Search

Macroeconomic Insights

Oil: Still Searching for the Equilibrium

Shale’s efficient, low-cost production cycle continues to complicate rebalancing of the global oil market, but Goldman Sachs’ Head of Commodities Research Jeff Currie sees the balance of risks tilted to the upside for the second half of 2017. Among the contributors? Further drawdown of excess inventories and a cyclical upswing in oil demand.