Oil prices could stay at higher levels in the years to come as demand rebounds while supply remains tight, according to Goldman Sachs’ head of energy research.
Damien Courvalin, who is also a senior commodity strategist, said the market fundamentals warrant higher prices and that the bank’s forecast for Brent crude is $85 per barrel for the next several years.
“This is not a transient winter shock like it could be for gas. This is actually the beginning of a material repricing higher for oil,” he told CNBC’s “Street Signs Asia” on Thursday.
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.