Oil will once again be profitable when market destocking runs out, says Goldman Sachs' Jeff Currie

[@jaykraft9523]

hope Jeff is right, but the unbridled pumping of commodities by him continually could cause people to not see some of these brutal downturns coming. He talks as if commodities couldn't possibly go down. They do. The overall cycle may be as he says, but beware of sharp downturns which do come. Recession may delay any upturns as commodities are hit in recessions and downturns

[@jinsmsw]

This guy was forecasting oil $150 a barrel three months ago 😂

[@georgekazanchyan4976]

That is because he is only an oil analyst, he doesn't factor in the macro economy. Whatever he says, just take it with grain of salt. I just can't see oil breaking above $85 if the fed is going to keep interest rates high for long.

[@jinsmsw]

@@georgekazanchyan4976 He is just not fit for the job.

[@moneyball647]

@@georgekazanchyan4976 Dude, he's one of the best analysts out there and saw the commodity boom years ago. All you guys have to do is look at supply and demand. Companies are not drilling for oil and oil demand relatively remains inelastic. People will still need oil. Even during hte 2008 crisis oil demand just went low by 3-5%. Look for oil to explode higher by the second half or next year.

[@Snowbird_89]

He’s an idiot speculator

[@YS-ys1us]

So basically, as retail investor, you’d better reverse what GS said to avoid being exploited by the big institution.

[@ChristopherWalkenActor]

Currie is completely useless....he's always predicting $150 oil......

[@956870733]

He's saying it will become once again profitable to hold (storage) oil, he's not commenting on profitability of oil producer.

[@mandarinandthetenrings2201]

I don't know what he is talking about American oil refineries are making a killing right now.

[@jackiechan3509]

Oil or platinum which will last for a 1000 years?????Which will carry inflation????

[@ClaireAffleck476]

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[@LuisellaLorenzo]

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[@tashagreen7406]

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[@bestofsatish]

Oil to head down as travel move towards EV. By 2035, nearly 40mn bbl/day will be freed up. So Oil production must fall otherwise, prices will crash

[@TheJohnmmullin]

Any disciplined and mature oil company should be extremely profitable at consistent 70$/WTI. Oil will never (nor should we want) to have oil be 120$/barrel.

[@georgekazanchyan4976]

OMG! Oil is not a commodity that should be considered a hard asset like Gold to hold until prices appreciate. Oil is a commodity like vegetable, you need to sell it quickly and liquidate.

[@generalposter4792]

Funny how it's completely the opposite 8 days later 🤣

[@fargorealtors]

oil is not a scarce product