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Goldman: Oil could surge up to $110 by Q3

Mohamed Abdelhamid 11 January, 2023 10:09 pm Commodities, Market Update

Commodity prices, particularly crude oil, are expected to corelate will China’s reopening after Lunar New Year celebrations later in January, according to Goldman Sachs Group Inc.

“What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview on Wednesday.

“What is idled? Planes, trains and automobiles. You turn them all back on, that is going to be a big pop in oil demand”, added Currie.

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