We think the fundamentals will eventually materialize in WTI & Brent: Goldman Sachs' Jeff Currie

Jeff Currie, Goldman Sachs global head of commodities research, joins 'Squawk Box' to discuss the latest oil prices and inventory levels, the future of oil demand, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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[@syedahmed6568]

This dude has been wrong. "Goldman’s Currie Sees Oil at $110 a Barrel by Q3 on China" - 5 months ago. He failed to realize that Russia and Saudi are fighting to gain Chinese market shares and on top of that Russian oil is being sold at a massive discount. So if OPEC cuts production, Russia will go ahead and gain more market shares with discounted prices. Saudi Arabia is completely trapped. Iran and Russia are both willing to sell oil at a massive discount.

[@pjcanseco2590]

Q3 ain't over yet, though. Come back in 3 months and see how much more oil is up by then.

[@syedahmed6568]

@@pjcanseco2590 Its gonna be tough. Russia cant even sell its oil to the US or EU. Russia is selling to china and india. Russia wont cut production. That would be the stupidest idea. Russia is technically in a war with Saudia to gain Chinese market shares.

[@ChristopherWalkenActor]

How does Currie still have a job? Anyone listening to him since his $150 oil call would have lost all their money.....

[@method341]

That's why stop losses are crucial

[@bruceabrams5997]

When Currie says buy GS is selling!

[@SamTenkan]

​@@bruceabrams5997Do you think Curry has an effect on commodity prices? 😅

[@stevelane2753]

How many times does someone have to be wrong before they stop putting someone on?

[@samthedoor]

Uh oh take cover! Whenever he talks, oil gets hit. But I do agree with him.

[@Daniyoyo]

To his credit.. he is always talking about the upcoming commodity super cycle , which he might be completely correct , but at the moment , he is a losing bull

[@larrybrewer]

Looking back two weeks, people who listened to him made out pretty well in a short period of time.

[@celcorsystems1890]

Goldman needs to get rid of this analyst. His analysis is poor.

[@thevinceberry]

Probably wouldn't let the good ones on TV, they are too busy reading and in meetings.

[@Scottieguru]

Government policies has strangled oil companies with anti-growth policies. Oil companies have stopped investing in exploration and growth and are awash in cash. They are putting this cash back into share buybacks and dividend payouts. When the oil price spikes due to a supply shortage, inflation will shoot up. This will cause the Fed to increase interest rates dramatically. When interest rates reach 7% the global stock markets will plummet. Does anyone out there remember the 80's?

[@samwalton4598]

The market is still trying to determine how deep of a recession China is plunging into! As goes China so goes the commodity markets. There will be no “turn around” in China in the foreseeable future. So I believe shorting the commodity index later this year is a money maker.

[@Patrick-yh5yd]

A week later oil trying to rally with the Dow.

[@Tzmaker]

55 dollars on WTI incoming

[@missunique65]

Gs BS

[@tomyi4177]

So wrong all the time

[@sflxn]

Oil will be back to $55 before it goes to $90 again. IThis is an El Niño year. There will be fewer hurricanes this fall and a warmer winter. Add on top a possible slow down in the economy and rising interest rates. Higher rates are not good for drillers. I stopped listening these happy happy analysts predicting higher oil prices. It will come eventually, but this year looks really bad. I might be wrong, but I've made my bet to get out.

[@tinukristen4417]

Most incompetent oil analyst along with Amrita Sen.