Goldman: No One Knows What’s Going On In Oil Markets

There has always been a lot of uncertainty around oil demand and supply, and in recent years this uncertainty has become excessive. Now, this level of excess uncertainty has got analysts struggling to make forecasts about demand and supply. Bloomberg this week quoted Goldman Sachs’ commodities chief Jeffrey Currie as saying it has become “increasingly difficult to know what production levels will balance the market.” Currie was referring to the decision OPEC+ needs to make at the start of next month on whether to continue cutting…