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Goldman Sachs ’surge theorist’ says $200 oil in sight

Think $122 a barrel is high? Think again.

Goldman Sachs’ Arjun Murti believes oil prices of $150 to $200 a barrel within the next six to 24 months are “increasingly likely”. Mr Murti is the analyst who three years ago correctly predicted a price “super-spike” above $100.

Moreover, Mr Murti notes, the current energy crisis may be coming to a head, given inadequate supply growth and the limited spare capacity at OPEC. Comments from OPEC president Chakib Khelil seem to contradict this statement, however Mr Khelil does not rule out the possibility of $200 price.
Super-spikes aside, Goldman also raised its 2008 spot target on West Texas Intermediate crude to $108 per barrel from $96 and its Brent target to $108 from $95.

All this comes with a caveat, of course. Says Mr Murti:
“Predicting the ultimate peak in oil prices as well as the remaining duration of the upcycle remains a major uncertainty.”

This entry was posted by Stacy-Marie Ishmael on Tuesday, May 6th, 2008 at 22:10 and is filed under Capital markets, People. Tagged with , , , , . You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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Comments

  1. May 08   20:49 Posted by Ready for $7.50 gas pumps: 2 years time « Meandering Matrix [report]

    […] http://ftalphaville.ft.com/blog/2008/05/06/12821/goldman-sachs-surge-theorist-says-200-oil-in-sight/?source=rss http://blogs.moneycentral.msn.com/topstocks/archive/2008/05/06/a-scary-thought-gasoline-at-7-50-a-gallon.aspx […]

  2. May 08   20:28 Posted by $7.52 a gallon at make it news [report]

    […] Here’s the current speculation from MSN via Atrios: The news got lots of attention: Goldman Sachs analyst Arjun Murti predicted Tuesday that the price of crude oil could hit $150 to $200 a barrel in six to 24 months. (Here’s one discussion of the report. Another is here.) […]

  3. May 07   3:38 Posted by A scary thought: Gasoline at $7.50 a gallon - Top Stocks [report]

    […] more than the estimated $720 million a day spent in Iraq. Back to Top Stocks Digg this | Email this | Link to this Comments […]

  4. May 06   22:19 Posted by hedgehog [report]

    short 4×4’s

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