Oil prices can reach $ 105 per barrel, predicts Goldman Sachs

The global oil market has entered in a long period of growth in oil prices, which will be accompanied by sharp jumps, up to $ 105 per barrel. The analysts of the American financial corporation Goldman Sachs made this forecast.

The authors of the report, prepared by the Global Investment Research Corporation, compare this period with the situation that existed in the global oil market in the 70s of the last century. In those years, as a result of the embargo for the supply of oil from Arab countries to the West and the Revolution in Iran, oil prices and oil products reached record marks, which led to a decline in the global economy and a long-term decline in oil, ITAR-TASS recalls.

“We believe that the world market is currently at the initial stage of what we call the“ super -shingle ”period - a long -term strip of high oil prices sufficient in order to significantly reduce energy consumption and recreate reserve reserves.

“Only after that it will be possible to return to lower prices,” the Goldman Sachs report said. According to its authors, oil prices during the Super Scarlet will fluctuate at 50-105 dollars per barrel. This is a revised forecast of corporation analysts, who previously believed that prices would stay within the framework of $ 50-80.

Revision is caused by the continuing powerful increase in oil demand in the United States and China. According to their estimates, in the United States, the average annual value of futures for oil in 2005 and 2006, respectively, will reach $ 50 and 55.