Crude oil is unlikely to reach US$100 a barrel as various analysts have warned, Goldman Sachs’ chief of commodities Jeffrey Currie told S&P Global Platts in an interview. This is not the first time the analyst has countered the dominant sentiment: in September, Currie also said the chances of Brent hitting US$100 were slim although not impossible. “We’re not saying $100 oil cannot happen. It’s not our base case nor do we think it’s very likely,” Currie said, adding “sustainable loss in all of Iran’s oil exports for an extendable period of time” had to emerge for the bullish predictions to become a reality. The analyst went on to detail the reasons for this cautiousness: in addition to indications that Iran’s oil exports will not fall to zero—and one might add they won’t even fall to half what they were before, at least not immediately—production is growing. Saudi Arabia, […]