{"id":4992,"date":"2015-01-28T19:54:25","date_gmt":"2015-01-29T00:54:25","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4992"},"modified":"2015-01-28T19:54:25","modified_gmt":"2015-01-29T00:54:25","slug":"bearishness-continues-among-oil-industry-experts","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4992","title":{"rendered":"Bearishness Continues Among Oil Industry Experts"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/Bearishness-Continues-Among-Oil-Industry-Experts.html\" target=\"_blank\">Bearishness Continues Among Oil Industry Experts<\/a><\/h3>\n<p>The business world is full of sometimes conflicting theories about what caused the plunge in oil prices during the past seven months, and how low that price will go. But Goldman Sachs seems to have come up with a unified theory.<\/p>\n<p>It began late in the afternoon of Jan. 26 when Gary Cohn, the president of Goldman Sachs Group Inc., told the CNBC television program \u201cClosing Bell\u201d that he expected the average price of oil, now around the $45 range per barrel, to fall further,\u00a0<a href=\"http:\/\/www.cnbc.com\/id\/102372199#.\">perhaps as low as $30 per barrel.<\/a><\/p>\n<p>\u201cMy view is we\u2019re probably in the lower, longer view,\u201d said Cohn, a former oil trader. \u201cWe could definitely get down to $30.\u201d<\/p>\n<p>On the same day, Jeff Currie, Goldman\u2019s chief commodity analyst, issued a research paper saying the demand for oil is slowing down in emerging economies, including China, meaning that the price of crude will stay low for a long time, and may never return to the prices they fetched 10 years ago.<\/p>\n<p><a href=\"http:\/\/oilprice.com\/Energy\/Oil-Prices\/Increasing-Demand-For-Refined-Products-Will-Increase-Oil-Prices.html\"><strong>Related:\u00a0Increasing Demand For Refined Products Will Increase Oil Prices<\/strong><\/a><\/p>\n<p>In fact it was Currie who predicted that the price of oil would exceed $100 as it did a decade ago. Now, though, he points to a more recent element in the equation: the surge in shale oil production by the United States.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bearishness Continues Among Oil Industry Experts The business world is full of sometimes conflicting theories about what caused the plunge in oil prices during the past seven months, and how low that price will go. But Goldman Sachs seems to have come up with a unified theory. It began late in the afternoon of Jan. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[589,1278,1775,595,596],"class_list":["post-4992","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-industry","tag-oil-price-collapse","tag-oil-production","tag-oil-supply"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4992"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4992\/revisions"}],"predecessor-version":[{"id":4993,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4992\/revisions\/4993"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}