Goldman Sachs anticipates return to long-term oil price stability

Latest note on oil outlook, published Goldman Sachs’ analysts, cite that they expect a return to stable long-term oil prices, in the wake of improvements in technology and therefore the costs involved with shale extraction. 

Key Quotes via CNBC:

"This higher level of certainty in the resource base for future supply is what helps drive our confidence" 

"We believe we are going back to an environment similar to pre-2003, a period characterized by stable long-term oil prices and low oil-dollar correlation" 

"The last time the market had this level of certainty around long-term oil prices was before the rise in long-dated oil prices in 2003, nearly 15 years ago"

"The strategic case for commodities remains solid"