Oil market faces production issue in 2024, Goldman’s Currie says

Bloomberg/Anthony DiPaoloa/2-5-2023

“With sanctions likely to cause Russian oil exports to drop and Chinese demand expected to recover as the country ends its Covid Zero policy, prices will rise above $100 from their current level of around $80, according to Goldman.”

USAGOLD note: Oil priced above $100 would do some damage to the low-inflation scenario since it is a component in pricing just about everything. Too, the China scenario Currie envisions could pressure other commodities higher adding to the problem.