Currie says oil will break above consensus view

China’s move to support manufacturing and Europe rebuilding stockpiles all point to stronger commodity prices, particularly for oil and copper, Carlyle’s Currie said. — Reuters

HOUSTON: Oil prices are set to rise well above the current consensus view of US$70 to US$90 a barrel if the US Federal Reserve cuts interest rates in the coming months, according to Carlyle Group LP’s Jeff Currie.

“I want to be long oil and the rest of the commodity complex in this environment,” Currie told Bloomberg TV in his first interview since joining Carlyle from Goldman Sachs Group Inc, where he became the public face of the Wall Street bank’s commodities research and was well-known for his bullish price calls.