Goldman Sachs Is Bullish towards Oil Price, Citing Imminent Deficit

The head of commodities at Goldman Sachs said that the banking crisis is more of a supply-side shock than a demand-side shock for commodities; he also said that Europe is relatively safe, mainly because of the problems of banks in the United States. Goldman Sachs expects the oil market to enter a deficit in June. Oil prices may have room to rise by $5-10/barrel.