Goldman's Currie Sees Oil at $110 by Q3 on China

The transcript discusses the impact of the post-Chinese Lunar New Year reopening on oil and copper markets. It forecasts oil prices reaching $100 due to increased international travel and further growth to $110 by the third quarter. The reversal of the zero-COVID policy and property market stimulus are key factors. Copper is highlighted as critical for decarbonization, with a structural supply imbalance expected to drive prices up to $15,000 per ton. The markets are currently priced for a recession, with inventories exhausted, indicating potential for significant price increases.

What is the expected price of crude oil by the third quarter, according to the forecast?

• $90

• $100

• $110

• $120

Which policy reversal is mentioned as having a substantial impact on oil?

• Three red lines policy

• Monetary policy

• Zero-COVID policy

• Trade policy

What is the long-term price target for copper mentioned in the analysis?

• $15,000

• $11,500

• $20,000

• $9,000

What is copper referred to as in the context of global decarbonization?

• The new silver

• The new gold

• The new oil

• The new coal

What market condition is mentioned as being priced for a recession?

• High demand

• Low supply

• Exhausted inventories

• Surplus production