Goldman Sachs says oil will roar higher – and consumers will feel like crude is at $160 a barrel due to surging gas prices

Markets Insider/Harry Robertson/6-7-2022

“Goldman Sachs economists have predicted oil prices will surge to $140 a barrel this summer, with a drop in Russian production and a gradual recovery in Chinese demand adding to the pressure on already low supplies. But they said consumers will feel as though oil has hit $160 a barrel, because a lack of capacity at refineries…”

USAGOLD note: Just in time for the summer driving season ……

Cartoon courtesy of MichaelPRamirez.com