Goldman's Currie on Favorite Commodity: Oil, Oil and More Oil

The video discusses the current bullish state of the oil market, driven by a surge in demand and limited supply outside of OPEC. With inventories dropping and time spreads tightening, there's a significant upside risk in oil prices. The market is expected to remain tight until late in the year, with potential price spikes. The shale industry is under pressure, with private companies likely to act first. Investment strategies are shifting towards return on equity rather than volumetric growth. OPEC's ability to increase supply is limited, with Russia and Saudi Arabia playing key roles in addressing the deficit.

What are the expected price targets for oil in the upcoming months, and what factors could influence these prices?

Discuss the implications of OPEC's production capabilities on the global oil market.