BAKU, Azerbaijan, June 28. The risk of rising prices for crude oil and products is extremely high right now, Jeffrey Currie, global head of commodities research at Goldman Sachs investment bank said, Trend reports via CNBC.
As Currie explained, the recent oil price rebound may be an opportunity to buy oil as prices are expected to rise this summer.
“The bottom line is that the situation across the energy space is incredibly bullish right now. The pullback in prices we would view as a buying opportunity,” he said.
According to Currie, the underinvestment thesis is at the core of the bullish view of the energy sector. The investments continue to run from the sector, while they should come in.
“Ultimately, the only way of solving these problems is to increase investment, so we stick to our guns of oil prices moving into the summer up into $140 per barrel range given record-level cracks, and that’s going to be a lot more upside to product prices,” he noted.
Follow the author on Twitter: @mariiiakhm