"Goldman Sachs Sees Brent Crude Oil at $55 a Barrel in 2020"

"As oil prices fell from more than $100 a barrel to a low of $43.46 over the past year, analysts and economists constantly tried to pick a bottom and had little success.

Now, they are trying to forecast a recovery, but Goldman Sachs is out with a note this morning titled New Oil Order predicting oil will stay at lower levels for the rest of the decade. ...

The note is meant to predict what companies are poised to do well in an environment with lower oil prices, but the call for $50 just by itself is notable. Other market analysts have made predictions for oil to move at least slightly higher over the longer term, as they forecast that non-OPEC related supply will start to shrink. Goldman, on the other hand, reckons that the shale boom will continue even as OPEC refuses to cut back on production."

Julie Verhage reports for Bloomberg May 18, 2015.

SEE ALSO:

"Goldman Cuts Crude Outlook And Oil Company Forecasts" (Reuters)

"$100 Oil Seen Years Away by Petronas as Shale Output Resilient" (Bloomberg)

"Saudi Arabia Oil Exports Rose to Highest Levels Since 2005" (Reuters)