Tommy Humphreys | Oct 28, 2014 03:19AM ET
A compelling piece of research from Goldman Sachs is being passed around the street this morning. It makes the case for $75 crude oil for the next 12+ months. Here are the key points:
The key charts:
In summary, the story is pretty clear; the boom in North American shale oil combined with technological improvements which are driving cost deflation in oil production pose serious headwinds for the price of oil to buck for the foreseeable future. Weak global economic growth might serve as the final nail in the coffin for oil prices.
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