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Kaoboy Musings
Re: Oil-GS Call for $90 Brent by YE’21.

Re: Oil-GS Call for $90 Brent by YE’21.

GS out with a chart pack today, calling for “next leg higher in oil prices - from a cyclical to a structural bull market.” Summary points/editorial to follow.

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Michael Kao
Sep 27, 2021
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Kaoboy Musings
Kaoboy Musings
Re: Oil-GS Call for $90 Brent by YE’21.
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“This dynamic has led to a historic 4.5 mb/d deficit, which should lead inventories to fall to their lowest level since 2013 by year-end...”

Two charts tell the story. Here’s supply:

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Here’s demand:

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