Goldman Sachs: Crude Oil Headed To $130 A Barrel In Next 12 Months

While crude oil is hovering just above $89 as I write this, one prominent investment banking and securities firm predicts prices are headed higher over the next year. From Agence France-Presse earlier today:

Oil prices will likely rise to about $130 a barrel in the next 12 months as demand in emerging markets such as China and India make up for weak developed world growth, Goldman Sachs said Thursday…

Brent crude, which is traded in London, is expected to hit $130 a barrel in the next year, from current levels around $112, the bank said.

West Texas Intermediate (WTI) light sweet crude oil, traded on the New York Mercantile Exchange, is forecast to reach $126.50 a barrel over the same period from current $88.

The AFP highlighted Goldman’s forecast for a significant disparity in growth among the developed and developing economies. From the article:

The large emerging economies of the BRICS — Brazil, Russia, India, China and South Africa — are forecast to grow 7.7 percent this year and 7.9 percent in 2012.

By contrast, advanced economies are projected to expand only 1.7 percent this year and 2.1 percent next year, Goldman Sachs said.

At the end of last year, Goldman Sachs predicted the price of WTI light sweet crude oil would reach $100 by the middle of the year, and $105 by the end of 2011. WTI crude reached $101.95 by the second week of June before pulling back.

Will their end-of-the-year forecast also be realized? If so, what effect will energy prices at this level have on the stumbling U.S. recovery?

Source:

“Goldman Sachs tips oil to hit $130 in 12 months.” Agence France-Presse. 15 Sep. 2011. (http://www.google.com/hostednews/afp/article/ALeqM5gQoL8dSpwvRmfU0tqNDVBx1tfQTA?
docId=CNG.845572e84348f2e5c01e7818573012ea.11). 15 Sep. 2011.

Tags: , , , , , , , , , ,

Thursday, September 15th, 2011 Africa, Asia, Commodities, Emerging Markets, Energy, Europe, South America

No comments yet.

Leave a comment

Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

This Project Dedicated to St. Jude
Patron Saint of Desperate Situations



Please Rate this Blog HERE

happyToSurvive

NEW! Advertising Disclosure HERE
ANY CHARACTER HERE
Buy Gold And Silver Coins BGASC Reviewed HERE. Silver Bars & Coins On Sale! 1 Oz., 10 Oz., 100 Oz., 1 Kilo, Monster Boxes Of 1 Oz. Bars/Coins (500 Ct.)
ANY CHARACTER HERE
BullionVault BullionVault.com Reviewed HERE
ANY CHARACTER HERE
MyPatriotSupply.com Reviewed HERE
ANY CHARACTER HERE
Nitro-Pak--The Emergency Preparedness Leader Nitro-Pak Reviewed HERE. Presidents' Day Sale! Save Up To 41% Off Wise Emergency Foods
ANY CHARACTER HERE
Food Insurance Reviewed HERE. Buy Select 4-Can Case, Get Free Upgrade To 6-Can Case; Freeze-Dried Food Sampler Pack Now Only $35
<link>Free Pistol Case w/ Bag Purchase @Cheif</link> CHIEF Supply Reviewed HERE. 25% Off Propper Jackets (Code Needed) Thru 2/29; Fieldtex Products 20% Off Thru 2/29; Tru-Spec Tactical 9 Side-Zip Boots Only $55.96
ANY CHARACTER HERE
bullet proof vests BulletSafe Reviewed HERE
ANY CHARACTER HERE
Not all airguns preform the same in colder weather. Click to learn more. PyramydAir.com Reviewed HERE.
ANY CHARACTER HERE
Airsoft Megastore Reviewed HERE. 20% Off Any Purchase Over $100 (Code Needed)
ANY CHARACTER HERE
Survival Titles Save 20% Paladin Press Reviewed HERE
 

Categories

Archives

Prepper Website

RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Related Reading: Vault Security Article By Metropolitan Safe Deposits Of London
    I really haven’t mentioned London, England-based Metropolitan Safe Deposits much on Offshore Safe Deposit Boxes except in conjunction with talk about “Operation Rize.” However, I recently discovered an insightful article on the website of this major player in the U.K. private vault industry. Chief executive Christopher Barrow published “Security is a process, not a product” […]
  • Related Reading: Glasgow Vaults Launch Covered By The Scotsman
    Back on January 20, I alerted blog readers about the opening of a new private vault- Glasgow Vaults- in Scotland’s largest city. Monday morning, I saw an article about the new non-bank safe deposit box facility on The Scotsman (UK) website. Scott Reid reported: What is being billed as “Scotland’s first independent safe deposit box […]
  • Latest Offshore Safe Deposit Box Promotions
    Here are the latest limited-time specials from offshore safe deposit box facilities listed on this blog’s sister site (link included to web page where each promo is displayed): Asia Malaysia mySAFEBOX (Seri Kembangan, Selangor)- “From Jan 11 to Feb 29. Give & Get RM 300 Cash Rebate.” (1/27/16 Facebook post) Titanium Safe Deposit Box (Kota […]
  • Safe Deposit Federation Launched As ‘Self-Regulating Federation Of Independent Safe Deposit Box Companies’
    Since last spring, I’ve been aware of efforts to construct an international trade association for private, non-bank safe deposit box facilities. As recent as last week I discussed the subject. In a January 26, 2016, follow-up post on that series about the 1980s U.S. private vault boom, I blogged: Something else I came across I […]
  • Related Reading: India’s Non-Banking Finance Companies Now Permitted To Offer Safe Deposit Boxes
    Sounds like more safe deposit boxes outside the banking system may be coming online in India soon. Vivina Vishwanathan reported on Livemint.com (website of India’s Mint business newspaper) Monday: Last week, the Reserve Bank of India (RBI) allowed non-banking finance companies (NBFCs) to offer safe deposit locker facilities to customers… Now, with NBFCs allowed to […]