Oil prices could tread as high as $100 a barrel in 2024, Goldman Sachs' Jeff Currie said.
AdvertisementAdvertisementOil prices are heading into the triple-digits next year, as a supercycle lifts the commodities sector, according to Goldman Sachs' outgoing commodities chief Jeff Currie.
That's largely because of a supply-demand imbalance in the oil market, which is likely to worsen over the next year and push prices higher, Currie said.
Currie, who has warned of triple-digit oil prices since late 2022, said there's increased demand for crude, noting that last week saw prices near $100.
That's because higher prices at the gas pump could translate into weaker consumer sentiment, which could hit spending, corporate profits, and eventually, economic growth.
Persons:
Goldman Sachs, Jeff Currie, Brent, —, Goldman, Currie
Organizations:
Service, CNBC, OPEC, Brent, West Texas Intermediate