It’s hard to imagine a spike in oil prices in the current market where prices have been stuck at around $60 a barrel for many months. And if you look closely, it’s not hard to see how oil prices could rally substantially in over the next two to five years. Such a scenario would be a gamechanger for global oil prices. Goldman sees this factor to be a key driver of oil prices in the medium-term outlook. It may be difficult to see now, but the fundamentals are in place for substantially higher oil prices in the medium-term.

Source: Forbes December 04, 2019 16:51 UTC