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Goldman's Remains Bullish Commodities 2023

OIL

Commodities will rally this year according to Goldman Sachs Jeff Currie on the back of China’s recovery, benign US inflation and Russian oil production contracts.

  • “The real core of the bullish view is the recovery in China,” Currie said - “And everything is pointing to that being A-OK,”.
  • With oil, “what we see right now is that the market is beginning to tighten back up,” Currie said, citing a bullish, backwardated pattern in Brent crude.
  • For the US outlook, Currie said “our economists think the core inflation picture is going to be relatively benign. And as a result, we continue to be very positive.”
Energy BulletsCommodities
Energy BulletsCommodities

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