Originally Posted by
Columbia
Goldman ups its oil forecast...
Oil rises to near $99 as Goldman boosts forecasts - Yahoo! Finance
Goldman said it expects Brent will rise to $140 by the end of next year, higher than the investment bank's previous forecast of $120. A civil conflict in Libya has shut down almost all the country's 1.6 million barrels a day of oil production, and Goldman expects that loss to global supply will eventually push prices higher.
Is this the same Goldman that predicted $200 bbl oil in July, 2008? Five months later it was $35.
I don't doubt that oil is going higher in dollar terms, but that won't be due to demand.
