• Goldman Sachs argues that oil will stay low for the rest of the decade but predictions are tough, few if any saw the oil crash coming.
• The main argument from Goldman is about the resilience of the US shale sector.
• This is indeed remarkable, the number of rigs has halved, but production has stayed up.
• A substantial part of that is due to temporary factors and with less new wells, the decline rate of existing wells will make themselves felt sooner or later.

Source: Goldman’s Oil At $50 By 2020? | Seeking Alpha