Why Goldman Is No Longer Buying The Oil Bounce
by Tyler Durden
ZeroHedge.com
Jun 15, 2016
One month ago there was some confusion when Goldman released a report in which it cut its 2017 oil price forecast due to expectations of slower market rebalancing, while at the same time boosting it near-term crude price projections due to short-term supply disruptions. To be sure, the media – and the market – focused only on the latter part while ignoring the former. To address this confusion, Goldman another report in which it explained why the firm is not “buying” the oil rally, and why it is time to focus on the big picture, one which Goldman does not find particularly optimistic.
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