Oil price forecasts

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$90-a-barrel 2010 price forecast for West Texas Intermediate crude futures,
- Dec 3, 2009

NEW YORK, Dec 3 (Reuters) - U.S. investment bank Goldman Sachs (GS.N) maintained on Thursday its previous $90-a-barrel 2010 price forecast for West Texas Intermediate crude futures, but predicted the NYMEX crude futures would rise to $110 a barrel in 2011, on rising demand from emerging markets.

In a research report, Goldman Sachs lowered its 2010 price forecast for NYMEX natural gas futures to $6 per million British Thermal Units (MMBTU), down from a previous forecast of $7.30. The bank expects natural gas prices to rise to $6.50/MMBTU in 2011.

"Overall, we leave our 2010 WTI crude oil forecasts largely unchanged at an average price of $90/bbl, but with lower prices at the start of the year and higher prices at the end," the bank said in a report.
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these came from these URL , this is PDF of 10/13/09 , link from Mr. K posts ..
http://www.scribd.com/doc/21000080/Goldman-Sachs-Research-Commodity-Watch

asr note: interesting GOldman "BUY 2009/sell 2011 " initiated in FEB/2009 gave profit of $3.5/bbl in 8 months.
- many entries in these PDFs are what Goldman gave outside release for OIL esp. 2009 year end traget $85 and 2010 target $95









http://www.scribd.com/doc/21000080/Goldman-Sachs-Research-Commodity-Watch

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Goldman raises oil-demand forecast - 9/23/09
Analysts at Goldman Sachs raised their forecasts Friday for global oil demand for the fourth quarter of 2009 and for 2010 by 1.2 million barrels a day and 1.6 million barrels a day, respectively.

"The permanent damage from the credit crisis is much less than we had previously thought, which means that we are beginning the recovery from a higher base," wrote Jeffrey Currie and other Goldman analysts in a research note.

At the same time, Goldman maintained its price forecasts, saying that higher anticipated demand has been met by stronger supply, particularly out of Russia and the rest of the former Soviet Union.

As a result, Goldman raised its global supply forecasts by an amount similar to its global demand forecast.

Goldman kept its end-of-year target for benchmark crude prices at $85 a barrel, along with an average 2010 price forecast of $90 a barrel and its end-of-2010 target of $95 a barrel.
( asr: this $85 year end target was issued in june/2009 with this issue OIL touched from dropped 70 to 75 see notes below.)
asr: i think today price of $66 is one of the last oppertunities to get OIL for rest of 2009 , I belive for next 3 months OIL will maintain above 70 avarging around 73-78 range)


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asr: these 2 reports are released on June 4 , 2009 , after a June 3 drop from 69 to 66
see these timing of the report , Gold man waited to for a prefect day of down price to issue to 75 from $52 .
asr: It seems this $75 is near term target ( read 3 months) and $85 is year end target .
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what a play by Goldman Sachs and other funds!

http://www.elitetrader.com/vb/showthread.php?s=&postid=2453874#post2453874

First the complete lack of buying yesterday (read VSA) caused market to drop $4 from its highs. As it was dropping Goldman and other funds were buying. When Goldman completed its buying at EOD it issues a report for $85 oil! and then market jumps $4 today....

New money and small account holders wiped out!

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Goldman Sachs lift oil price target to $75

http://www.marketwatch.com/story/goldman-sachs-lift-oil-price-target-to-75

LONDON (MarketWatch) -- Goldman Sachs lifted its target on light sweet crude oil to $75 a barrel from $52. "The recent rally in WTI prices is likely to be but the first stage in the oil price rally that we expect will accompany a recovery in economic activity. In all, we expect the rally we have just observed to be followed by three more stages, creating a four-stage rally in oil prices in 2009 and 2010," the broker said
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Goldman raises end of 2009 oil price target to $85

LONDON, June 4 (Reuters) - Goldman Sachs raised its end of 2009 oil price forecast to $85 a barrel from $65 and introduced a new end of 2010 forecast of $95, the U.S. bank said in a research note.

Goldman said the recent rise in U.S. crude prices was likely to be the first stage in the oil price rally that it expects will accompany a recovery in economic activity.

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this post was around Jan 15 , 2009

Goldman Sachs said Monday the price of oil could fall below $30 a barrel in the short-term before rising to $65 in the fourth quarter.