Goldman Sachs shouted again: oil prices rose to 110 in the third quarter, the key is in China

Goldman Sachs believes that in the new year, oil-based commodities are expected to usher in higher prices, and the complete liberalization of China's economy will become an important driving force
.

On Wednesday, Jeff Currie, global head of commodity research at Goldman Sachs, said in a TV interview that if China and other Asian economies fully lift coronavirus restrictions, Brent crude could reach $110 per barrel by the third quarter, up about 34% from today:

If idle planes, trains and cars were restarted, oil demand would rise
sharply.

Earlier, star crude trader Pierre Andurand also said that oil prices could rise sharply this year if Asian economies fully reopen their coronavirus-related policies, and he proposed a higher price target of more than $140/barrel:

If China's economy fully reopens, crude demand could increase by 4 million b/d this year, up 4 percent from last year, far exceeding other analysts
' forecasts.

I think once Asia fully reopens, oil prices will rise to $140 a barrel, underestimating the size of
the demand boost.

Analysts and traders were on the heels as crude had just made its worst start since 1991, plunging 9 percent in the two trading days of the year and Brent futures briefly tumbling below
$80.

In addition, Currie believes that copper prices may exceed $11,500 per ton by the end of 2023, and in the long term, copper prices may reach $
15,000 per tonne.
This week, copper prices topped $9,000 a tonne for the first time since June
.