Podcasts about commodities research

In this episode we're joined by Daan Struyven, Co-Head of Commodities Research at Goldman Sachs, for insights on gold, oil, AI-driven power demand, and how shifting geopolitics are shaping the global commodity landscape. Daan breaks down what's driving markets—and where the signals matter most. *This episode was recorded on March 11, 2025.

Carl Quintanilla, Leslie Picker, and Michael Santoli discussed the latest for stocks – as new Jobs data (JOLTS) crossed the tape alongside a fresh announcement from Trump on tariffs: promising to raise all charges on Canadian Steel and Aluminum to 50% from 25%. What it means for the automakers, packaged food companies, and the broader markets. Plus, Fundstrat's Tom Lee broke down why he thinks stocks are massively oversold here, and Citi's Head of Commodities Research gave his take on the tariffs news. Additionally, the team talked big tech and what to do with stocks like Meta and Nvidia here - with one portfolio manager who oversees more than $9 billion in funds. Also in focus – the odds of a recession, what elections have to do with it, and how small businesses are viewing the economy; Bitcoin tries to hold on above $80K; Oracle slumps on disappointing guidance and numbers Squawk on the Street Disclaimer

The oil price has sunk to levels not seen since December 2021, giving hope that prices at the bowser could start to moderate.See omnystudio.com/listener for privacy information.

Is the commodity super cycle, long heralded, a mirage? Or, super charged by a capex cycle,  are we just at the start? What is the state of the commodity investment cycle? Why and how has geopolitics and dollar weaponization changed the landscape? If there is a global run up in prices will energy keep pace with metals? What does all this mean for the trading sector and investors? Returning to the HC Commodities Podcast to give his analysis of the commodities markets over the last year, and what the outlook is, is Jeff Currie, now Chief  Strategy Officer of Energy Pathways at The Carlyle Group. He is the former Global Head of Commodities Research in the Global Investment Research Division at Goldman Sachs.For more on HC Group visit www.hcgroup.global

Today we had the pleasure of visiting with Max Layton, Global Head of Commodities Research at Citi. Prior to joining Citi in 2017, Max held notable leadership positions including Managing Director and Head of European Commodities Research at Goldman Sachs as well as Deputy Head of Commodities Research at Macquarie. We have been eager to examine copper's recent record highs and were excited to have Max join us for a discussion on global commodity trends. In our conversation with Max, we discuss the current commodities landscape and significant trends that Max and his team are observing in the market. We explore the primary factors driving the copper surge, the impact of US Federal Reserve policies on global commodities markets, investment strategies for short-term cycles and long-term structural trends, and the most significant opportunities for growth and investment in the commodities market over the next few years. Max shares his perspective on China's role in the energy transition and how China's technological advancements impact the copper market, potential risks to the copper market from geopolitical events or changes in global trade policies, broader energy transition dynamics, and how the current state of the uranium market compares to other commodities. We cover how global economic trends and technological advancements might shape the copper market over the next decade, supply side challenges for copper, how speculative funds impact the copper market, the natural gas market in the US and globally, current trends driving gold prices, long-term oil market demand outlook, power prices and industrial activity, and more. It was fantastic to get Max's perspective from his vantage point in London and as head of the global group. He and his team clearly see market developments and gather information from multiple unique angles. Thank you for joining, Max! Mike Bradley kicked off the show by noting that this week could be a much slower news week for markets than prior weeks. On the economic front, he highlighted the 10-year yield was trading at ~4.45% yield and that there could be a bit of churn in bond yields this week due to lack of any real economic stats (outside of the FOMC meeting minutes). WTI remains stuck in a narrow trading band ($77-$81/bbl) even with the death of Iran's President and Foreign Minister in a helicopter crash over the weekend. Front month copper contracts recently spiked above $5.00/lb. mostly due to a substantial increase in “NET” non-commercial future positions. Mike also noted that long-term copper fundamentals remain constructive due to Russian metals sanctions, global production cuts and mine closures (ex. Panama), all at a time when copper demand is set to accelerate. On the broader equity market front, the DJIA hit an all-time high (>40,000) as well as most other broader market indices. NVIDIA reports Q1 results on Wednesday (after the close) and could be a market moving event for broader markets and the Tech sector. He ended by noting that NVIDIA is the best performing S&P 500 Stock YTD (+90%), accounting for ~25% of S&P 500 gains in 2024, so the investor expectation bar is pretty elevated for NVIDIA. Brett Rampal also joined and added his perspective and inquiries to the discussion. Thanks to you all for your support and friendship!

Brent Crude has traded roughly 20% higher since the start of the year due to a combination of strong demand growth and production cuts. Looking ahead, could oil prices reach close to $100 by September? Join Natasha Kaneva, Global Head of Commodities Research, and David Levi, Global Head of Commodity Institutional Sales, as they discuss the outlook for oil prices, supply-demand dynamics and more. This episode was recorded on May 13 2024. This communication is provided for information purposes only. Please read JP Morgan research reports related to it's contents for more information including important disclosures. Copyright 2023 JP Morgan Chase & Co. All rights reserved. 

On today's episode, financial journalist Govindraj Ethiraj talks to Kunal Shah, Head of Commodities Research at brokerage Nirmal Bang.SHOW NOTES(00:00) Stories Of The Day(00:50) Global shares hit highs, India skids and China sacks its markets regulator(03:09) India will be largest driver of global oil demand growth in the next 7 years, International Energy Agency(06:46) Satya Nadella says Microsoft will train 2 million Indians in AI In A Year.(09:22) How energy transition demand will drive copper prices up sharply. (17:08) Why India is Going Bananas With RussiaFor more of our coverage check out thecore.in--Support the Core Report--Head to www.indiaenergyweek.comJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube

Carl Riccadonna, BNP Paribas Chief US Economist, says we still have yet to feel peak restriction. Sarah Hunt, Alpine Saxon Woods Chief Market Strategist, says there's a place for bonds as investors look to a more balanced portfolio. Greg Valliere, AGF Chief US Policy Strategist, says we could see a surprise from the Democrats with an unknown nominee. Max Layton, Citi Global Head of Commodities Research, says OPEC+ would need to maintain cuts next year in order to balance markets.Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Speakers:   Thomas Salopek, Global Cross Asset Strategy  Natasha Kaneva, Head of Global Oil and Commodities Research    This podcast was recorded on June 15, 2023. This communication is provided for information purposes only. Institutional clients can view the related reports at  https://www.jpmm.com/research/content/GPS-4431498-0, and https://www.jpmm.com/research/content/GPS-4436085-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Binky Chadha, Deutsche Bank Chief Global Strategist and Head of Asset Allocation, says we could reach 5,000 on the S&P if a soft landing is achieved. Kathy Jones, Charles Schwab Chief Fixed Income Strategist, thinks the 5% higher yields are more punishment than reward. Terry Haines, Pangaea Policy Founder, discusses Trump's indictment over secret documents. Jeff Currie, Goldman Sachs Global Head of Commodities Research, say oil and copper are a liability right now. Nadia Calviño, Spanish Vice President and Minister for Economy and Digitalization, says she hasn't spoken with Elon Musk about any plans for a new Tesla factory in Spain.Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Our economists continue to look for a 25bp hike in May, followed by an extensive pause. Any pause by the Fed could mark a turn in what has been one of the most aggressive hiking cycles in decades. With oil market micro fundamentals turning positive, a shift in US monetary policy could be an important signal for the oil markets. Looking at Brent oil returns during 3, 6, 12, and up to 30 months after the Fed ends its hiking cycle, buying the last hike has proven to be the correct strategy historically.   Speakers Natasha Kaneva, Head of Global Oil and Commodities Research    This podcast was recorded on 14 April 2023 This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4381809-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

In this episode, Cem and Niels are joined by Jeff Currie, Head of Commodities Research at Goldman Sachs, for a conversation on the shifts in global natural resources that we are witnessing right now. We discuss how the focus on de-carbonization has impacted the economy and why the low income group is actually the key driver of inflation, why Currie believes markets are set up for a recession in 2023 and how the war in Ukraine causes disruptions in energy infrastructure. We also discuss why OPEC has risen to power again and what drives the oil prices, why we might run out of metals in the near future, why boycotting Russian oil is a climate paradox and what might be the solution to the energy crisis, how the underinvestment in carbon creates a ripple effect in multiple other sectors, why Currie believes renewable energy might not be the right solution to the energy crisis, how to profit from the commodity super cycle and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Episode TimeStamps: 02:35 - Introduction to Jeff Currie04:18 - A new kind of inflation?08:41 - Policy and what drives inflation15:41 - The outlook for the demand side22:45 - Short term position and the commodity space28:11: - Disruptions in infrastructure31:17 - The rise of OPEC33:32 - Status on the strategic oil reserve34:20 - Volatility in oil39:45 - Are we running out of metal?44:12 - The situation with gas48:15 - What is the solution?50:12 - Problems...

With house prices starting to fall in recent months, Ian King speaks to Tim Bannister from Rightmove about the market. He's also joined by the Global Head of Commodities Research at Goldman Sachs who has more on what investors can expect from the next year. There are going to be more jobs at M&S and Ian also looks ahead to the Davos summit.

Oil & Gas Markets in 2023 with Paul HorsnellIn this episode we are joined by Paul Horsnell, Global Head of Commodities Research at Standard Chartered, to review the major events that impacts oil and gas markets, as well as broader commodities, in 2022 and what major themes and learnings we can take into 2023. 2022 was an extraordinary year for the commodities sector with organizations struggling with unprecedented volatility while managing long term themes of a shifting political and global economic environment and energy transition. 2023 will likely be the same and Paul generously provides his view on how markets will behave and the key events to look out for. 

 Alan Blinder, Princeton University Professor of Economics & "A Monetary & Fiscal History of the United States, 1961-2021" author, expects to see more separation between the Fed and the Treasury in time. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says he will be bullish on oil come next spring. Troy Gayeski, FS Investment Solutions Chief Market Strategist & Managing Director, thinks Bitcoin will be around for the long haul, but says it will remain very volatile. Jennifer McKeown, Capital Economics Chief Global Economist, expects recessions in the UK and the Eurozone. See omnystudio.com/listener for privacy information.

Peter Oppenheimer, Goldman Sachs Chief Global Equity Strategist, say it's too premature for markets to be pricing peak interest rates. Ed Morse, Citigroup Global Head of Commodities Research, says the return of demand from China won't push the price of crude oil above $100. Michael Gapen, Bank of America Chief US Economist, says the Federal Reserve is not in the business of shutting down markets. David Rubenstein, Carlyle Group Co-Chairman & Co-Founder, discusses his interview with US Surgeon General Dr. Vivek Murthy on "Peer-to-Peer Conversations." See omnystudio.com/listener for privacy information.

Natasha joins us to discuss her views on oil in the wake of the recent OPEC cut. We cover the key factors impacting her price targets. Speakers: Thomas Salopek, Global Cross Asset Strategy Natasha Kaneva, Global Commodities Research   This podcast was recorded on 6 October 2022. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4224965-0, https://www.jpmm.com/research/content/GPS-4223305-0, https://www.jpmm.com/research/content/GPS-4220388-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

A decision by OPEC to cut the production of oil by 2 percent could lead to another uptick in the price of fuel here in Australia.See omnystudio.com/listener for privacy information.

Jeff Currie, Goldman Sachs, Global Head of Commodities Research, says oil markets are caught in a vicious negative feedback loop. Michael Spence, Nobel laureate & General Atlantic Senior Adviser, says the global economy has shifted and become supply constrained. Carl Weinberg, High Frequency Economics Chief Economist & Managing Director, says the Bank of England has no choice but to hike. Ray Farris, Credit Suisse Chief Economist, says the worst is yet to come for equities.See omnystudio.com/listener for privacy information.

Today's guest is Jeff Currie, Goldman Sachs' global head of Commodities Research. In today's episode, Jeff shares why he called for a commodity supercycle almost two years ago and where we are within that cycle today. He touches on the underinvestment in supply, why ESG makes this cycle different from past cycles, and why the risk of a policy error could exacerbate the problems we have in the commodity markets today.  Be sure to stick around to hear Jeff's price target for oil and a surprising call on the European energy markets. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit acretrader.com/meb. ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 

The recent decline in commodity prices has provided a rare respite for central banks trying to rein in high inflation. But are the energy and food crises afflicting the world actually easing? In the latest episode of Exchanges at Goldman Sachs, commodity bull Jeff Currie, Goldman Sachs' Global Head of Commodities Research, and commodity bear Gary Shilling, President of A. Gary Shilling & Co., debate whether the recent commodity price declines will prove temporary or more lasting while Meghan O'Sullivan, Professor at Harvard University, discusses the geopolitical implications of the commodity crisis and Chris Barrett, Professor at Cornell University, dives deep into the global food crisis and explains what could solve it. This episode is based off of Goldman Sachs Research's latest Top of Mind report. 

William Cohen, Chairman & CEO of the Cohen Group, Former Secretary of Defense and Former US Senator, says China would view a visit to Taiwan by Nancy Pelosi as a finger in the eye of Xi Jinping. Lara Rhame, FS Investments Chief US Economist, expects the US economy to continue to weaken. Ed Morse, Citi Global Head of Commodities Research, expects oil to continue its downward draft to the mid $80s. Stuart Kaiser, UBS Head of Equity Derivatives Research, says it's hard to call for a bull market in this environment. See omnystudio.com/listener for privacy information.

Episode 35 of The End Game sees Bill and Grant welcome Goldman Sachs Global Investment Research Global Head of Commodities Research, Jeff Currie for a discussion around the current dynamics in the commodities sector and their potential place in The End Game. Jeff's thoughts on the importance of the only two asset classes in the green this year — ‘hydrocarbons and carbohydrates' — are extremely eye-opening and the masterful job he does in explaining the need for positive, pro-energy policy change in an era of overwhelming focus on climate change is both balanced and thought-provoking. The importance of putting a price on carbon is laid out beautifully, as are the problems with current tax policies and the straitjacket into which policymakers have strapped themselves. Lastly, Jeff offers his thoughts on gold and precious metals as the road towards The End Game rises up to meet us... As a reminder, Silver Tier subscribers to https://www.grant-williams.com get access to both Things That Make You Go Hmmm… and all editions of The Grant Williams Podcast, including The End Game, The Super Terrific Happy Hour, The Narrative Game, This Week In Doom and Shifts Happen so sign up today!

Ed Morse, Citigroup Global Markets Global Head of Commodities Research, expects oil to go down to $85 a barrel. Kelsey Berro, JPMorgan Asset Management Fixed Income Portfolio Manager, expects a 75 basis point Fed hike in July. Dean Maki, Point 72 Chief Economist, says we are not currently in a recession. Henrietta Treyz, Veda Partners Director of Economic Policy, says Senate Democrats have a very shaky majority.See omnystudio.com/listener for privacy information.

Summer travel is here this holiday weekend! Join us as Jeff Currie, Goldman Sachs' Global Head of Commodities Research, and host David Greely go around the world in just under an hour.  Originally meeting at the University of Chicago in 1992, they worked together in the 2000s through the “revenge of the old economy” commodities bull market. Today, we're bringing them back together to discuss what's different this time and what remains the same. In the first track of our SmarterMarkets™️ Summer Playlist, Jeff and David turn up the heat with a freestyle conversation touching on everything from carbohydrates to hydrocarbons — and how we can encourage, rather than discourage, the investment required to provide the food, energy, and metals we need.

Following fears of a US recession, oil and iron ore prices have slipped back. See omnystudio.com/listener for privacy information.

Laurence Boone, OECD Chief Economist, discusses the cut to their global growth forecast. Danny Blanchflower, Dartmouth College Economics Professor, says the OECD's forecast is too optimistic. Anastasia Amoroso, iCapital Chief Investment Strategist, says there is more and more evidence that we may have reached peak inflation. Ed Morse, Citigroup Global Head of Commodities Research, says "booming" US exports of petroleum products are driving the price of crude higher.  See omnystudio.com/listener for privacy information.

In Episode 247 of Hidden Forces, Demetri Kofinas speaks with Jeff Currie, global head of Commodities Research at Goldman Sachs and an expert on commodity markets, commodity dynamics related to corporate risk management & geopolitics, and how to invest strategically in what Jeff Currie believes is a “commodity supercycle.” Currie is a fountain of knowledge and uniquely good at breaking down the market dynamics and material importance of an industry that incorporates every single aspect of the global economy from capital markets, to supply chains, to international politics. Understanding these dynamics is crucial for businesses and governments who need to navigate and plan for a future that is going to look radically different from anything that we have seen in a very long time. They are also crucial to understand for anyone managing money, as are the forces currently at work in the real economy and how multiple cycles of underinvestment, rising costs of capital, deglobalization, and wealth inequality to name just a few, are converging to create the greatest period of financial, economic, and political change in a hundred years. Fortunes will be made and many more will be lost during this period, and today's conversation with Jeff is meant to provide yet another important piece to understanding this very big puzzle. You can access the full episode, transcript, and intelligence report to this week's conversation by going directly to the episode page at HiddenForces.io and clicking on "premium extras." All subscribers gain access to our premium feed, which can be easily added to your favorite podcast application. If you enjoyed listening to today's episode of Hidden Forces you can help support the show by doing the following: Subscribe on Apple Podcasts | YouTube | Spotify | Stitcher | SoundCloud | CastBox | RSS Feed Write us a review on Apple Podcasts & Spotify Subscribe to our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at https://hiddenforces.io Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 05/04/2022

Jeff Currie, Global Head of Commodities Research at Goldman Sachs, returns to update us on the commodities super-cycle. Redistributive policies, energy transition and deglobalization are driving commodity prices higher and higher. However, investment is not flowing into the sector – kept away by the risk and the optics. This sets the stage for a volatility trap that could lead to huge market disruption. What has led us to the state and what could the future hold? How will investment return to the sector and will the government intervention already seen in German power markets be just the start.  To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/

In the latest episode of Exchanges at Goldman Sachs, Jeffrey Currie, Global Head of Commodities Research in the Goldman Sachs Research, discusses why he believes commodities are entering a supercycle and how the current geopolitical landscape is shaping commodity markets.  

For the opening episode of our new series, legendary podcast host Grant Williams welcomes back Jeff Currie, Global Head of Commodities Research at Goldman Sachs, to examine the question “What are Smarter Markets?” What are SmarterMarkets? SmarterMarkets is our vision for using technology to redesign and improve markets to meet society's biggest challenges, including climate change and the energy transition. SmarterMarkets is also our weekly podcast, bringing you the entrepreneurs, icons and executives of commodities, capital markets and technology to rant on the inadequacies of our systems and riff on ideas for how to improve them. Our three-part series “What are SmarterMarkets?” will include Jeff Currie, Head of Commodities Research at Goldman Sachs, Josh Crumb, CEO and Founder of Abaxx Technologies, and Erik Townsend, host of MACROVoices.

Chinese tech stocks have been slammed this year, on fears of regulation and uncertainty out of Beijing. James Liu of Clearnomics joins to discuss why he is still bullish on the sector for U.S. investors, despite regulatory headwinds. Plus, Citi's Global Head of Commodities Research, Ed Morse, joins Worldwide Exchange to discuss his outlook for the sector. And we discuss the performance of biotech and health care stocks this year, and what to expect from the market next year.

Are we in a super-cycle or is it a chimera generated by the short-term impacts of COVID and trade wars? What's the role of energy transition and redistributive policies around the world? How long will it last and how high will prices go? This episode is a recording of a panel discussion which host Paul Chapman moderated at the Reuters Events Commodity Trading 2021. The panelists represent the leading economists in the commodities world: Jeff Currie, Global Head of Commodities Research at Goldman Sachs; Saad Rahim, Chief Ecnomist at Trafigura; Derek Sammann, Global Head of Commodity and Options at CME Group and Alex Booth, Head of Research for Kpler. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/

Back in January, we spoke with Jeff Currie, the Global Head of Commodities Research at Goldman Sachs. At the time, he was bullish on the commodities complex for several reasons. Since then, of course, we've seen several markets go on an absolute tear and to a degree that's taken even him by surprise. The bad news for commodities consumers? We still haven't hit max pain. On this episode, we speak again with Jeff about what's driving prices higher and why he sees stronger price increases over the next several months. See omnystudio.com/listener for privacy information.

Ed Morse, Citi Head of Commodities Research, says we haven't reached peak oil demand yet, but it's coming. William Lee, Milken Institute Chief Economist, Fed is concerned with maximum extent of employment. Brian Levitt, Invesco Global Market Strategist, says the U.S. wll stabilize to a more modest growth rate. Claudia Sahm, Jain Family Institute Senior Fellow, says we do not have the headwinds to keep wage gains going. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Ed Morse, Citi Head of Commodities Research, says we haven't reached peak oil demand yet, but it's coming. William Lee, Milken Institute Chief Economist, Fed is concerned with maximum extent of employment. Brian Levitt, Invesco Global Market Strategist, says the U.S. wll stabilize to a more modest growth rate. Claudia Sahm, Jain Family Institute Senior Fellow, says we do not have the headwinds to keep wage gains going. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jeff Currie, Goldman Sachs Global Head of Commodities Research, says part of what is pushing commodities higher is demand to hedge inflation risk. Brian Deese, National Economic Council Director, says inflation is a risk that bears watching. Michael Kushma, Morgan Stanley CIO of Global Fixed Income, says boom conditions could continue. Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, says this coronavirus is not an eradicable disease. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jeff Currie, Goldman Sachs Global Head of Commodities Research, says part of what is pushing commodities higher is demand to hedge inflation risk. Brian Deese, National Economic Council Director, says inflation is a risk that bears watching. Michael Kushma, Morgan Stanley CIO of Global Fixed Income, says boom conditions could continue. Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, says this coronavirus is not an eradicable disease.

Podcast: Bloomberg Surveillance (LS 58 · TOP 0.5% what is this?)Episode: Surveillance: Commodities Surge With CurriePub date: 2021-02-23Jeff Currie, Goldman Sachs Global Head of Commodities Research, says part of what is pushing commodities higher is demand to hedge inflation risk. Brian Deese, National Economic Council Director, says inflation is a risk that bears watching. Michael Kushma, Morgan Stanley CIO of Global Fixed Income, says boom conditions could continue. Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, says this coronavirus is not an eradicable disease.The podcast and artwork embedded on this page are from Bloomberg Radio, which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

It's been a weird several days in the market. What started with a short squeeze in GameStop, driven by Reddit traders, somehow morphed into a huge surge in demand for silver. Whether it started on WallStreetBets is unclear, but something happened that caused demand for the metal to surge. So we talked about this with Jeff Currie, the global head of Commodities Research at Goldman Sachs. We also discussed why he sees a huge bull market coming in commodities. And why Biden's policies of green stimulus and redistributive economic policy may push the price of oil even higher.

Chris Grisanti, MAI Capital Management Chief Equity Strategist and Senior Portfolio Manager, says markets are working well despite the Reddit-fueled frenzy. Subadra Rajappa, Societe Generale Head of U.S. Rates Strategy, expects gradual increase in 10-year yield this year. Deborah Fuller, University of Washington School of Medicine Microbiology Professor, says the coronavirus will be endemic. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, likes the "fundamental story" behind silver. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Chris Grisanti, MAI Capital Management Chief Equity Strategist and Senior Portfolio Manager, says markets are working well despite the Reddit-fueled frenzy. Subadra Rajappa, Societe Generale Head of U.S. Rates Strategy, expects gradual increase in 10-year yield this year. Deborah Fuller, University of Washington School of Medicine Microbiology Professor, says the coronavirus will be endemic. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, likes the "fundamental story" behind silver.

Sam Stovall, CFRA Chief Investment Strategist, discusses investor optimism as attention turns to earnings season. Greg Valliere, AGF Investments Chief U.S. Policy Strategist, says Joe Biden will probably go big and prevail with his initial stimulus bill. Frances Donald, Manulife Investment Management Global Chief Economist & Global Head of Macroeconomic Strategy, says this week's jobless claims data is a tipping point. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says commodities are showing signs of a structural bull market. Read Full Article

Sam Stovall, CFRA Chief Investment Strategist, discusses investor optimism as attention turns to earnings season. Greg Valliere, AGF Investments Chief U.S. Policy Strategist, says Joe Biden will probably go big and prevail with his initial stimulus bill. Frances Donald, Manulife Investment Management Global Chief Economist & Global Head of Macroeconomic Strategy, says this week's jobless claims data is a tipping point. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says commodities are showing signs of a structural bull market. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Sam Stovall, CFRA Chief Investment Strategist, discusses investor optimism as attention turns to earnings season. Greg Valliere, AGF Investments Chief U.S. Policy Strategist, says Joe Biden will probably go big and prevail with his initial stimulus bill. Frances Donald, Manulife Investment Management Global Chief Economist & Global Head of Macroeconomic Strategy, says this week's jobless claims data is a tipping point. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says commodities are showing signs of a structural bull market.

Jeff Currie, head of Commodities Research for Goldman Sachs Research, talks about why his team is bullish on commodities for 2021.

As the gold price has rallied, investors have started to question whether the precious metal deserves a place in a modern portfolio. Is it too late for speculators and should the lack of dividend be a dealbreaker? In this broad-ranging discussion, Head of Commodities Research for nab Markets, Lachlan Shaw shares his thoughts on: Why gold and equities are both rallying Whether gold has ceased to be a defensive asset – or even a store of value The drivers of the gold price, and how they’ve changed over time How to access gold (directly, through an ETF or via a gold mining stock) and How seriously retail investors should consider a space for gold in their portfolios. For your diary: Every year, nabtrade hosts its annual Charity Trading Day. This year we're supporting Rural Aid's Young Minds program and the ASX Refinitiv Charity Foundation. Find out more here.  You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean, Spotify or at nabtrade.com.au/yourwealth   If you’re short on time, consider listening at 1.5-2x speed, which should be shown on the screen of your device as you listen. This won’t just reduce your listening time; it has also been shown to improve knowledge retention.

The pandemic has hastened an already growing trend in energy consumption globally—a shift from fossil fuels like oil and gas toward renewable resources. What nations and corporations stand to benefit from this new reality, and who stands to lose the most? In the latest episode of Living Beyond Borders, moderator Caitlin Dean asks some geopolitical and economic experts--Luigi Pigorini, Head of Citi Private Bank in Europe, Middle East, and Africa; Ed Morse, Global Head of Commodities Research at Citi; and Robert Johnston, Managing Director, Global Energy and Natural Resources at Eurasia Group. Subscribe to the GZERO World with Ian Bremmer Podcast on Apple Podcasts, Spotify, or your preferred podcast platform, to receive new episodes as soon as they're published.

The pandemic has hastened an already growing trend in energy consumption globally—a shift from fossil fuels like oil and gas toward renewable resources. What nations and corporations stand to benefit from this new reality, and who stands to lose the most? In the latest episode of Living Beyond Borders, moderator Caitlin Dean asks some geopolitical and economic experts--Luigi Pigorini, Head of Citi Private Bank in Europe, Middle East, and Africa; Ed Morse, Global Head of Commodities Research at Citi; and Robert Johnston, Managing Director, Global Energy and Natural Resources at Eurasia Group.

Dr. Jeff Currie is global head of Commodities Research at Goldman Sachs, where he has held various positions since 1996. His research helps the firm and its clients with corporate risk management programs, short and long- term commodity investment strategies and asset allocation. Today, he will discuss the energy markets, recent trends in the oil industry, what can be learned from the reopening of China’s economy, and developments that have arisen from the COVID-19 epidemic. Dr. Currie explains how the recent pandemic has caused a drop in oil prices ten times larger than the drop experienced during the 2008 recession, and for understandable reasons. Oil enables globalization and facilitates social contact, two things this pandemic has inhibited the most. Dr. Currie believes the industrial need for oil will return as economies reopen, as will the need for oil to enable commuting, but jet oil needs will likely diminish as businesses realize the convenience afforded by video conferencing.Go to NoLabels.org to learn more about how we are bringing together a bipartisan group of public and private leaders working to stop the virus, save lives and get Americans back to work.

Jeff Currie, Goldman Sachs Global Head of Commodities Research, says there is far too much optimism in oil markets and sees gold heading towards $1,800/oz near term. Jim O'Sullivan, TD Securities Chief U.S. Macro Strategist, expects most of the major job losses to be behind us once we get through May. Brian Moynihan, Bank of America Chairman and CEO, says the economy is unlikely to experience a recovery until the end of next year. Neysa Ernst, Johns Hopkins Hospital Department of Medicine Nurse Manager, stresses why it is important to continue the use of masks and social distancing in order to keep ahead of the curve. Campbell Harvey, Duke Finance Professor, says the policy response to COVID-19 pandemic has been a black swan. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jeff Currie, Goldman Sachs Global Head of Commodities Research, says there is far too much optimism in oil markets and sees gold heading towards $1,800/oz near term. Jim O'Sullivan, TD Securities Chief U.S. Macro Strategist, expects most of the major job losses to be behind us once we get through May. Brian Moynihan, Bank of America Chairman and CEO, says the economy is unlikely to experience a recovery until the end of next year. Neysa Ernst, Johns Hopkins Hospital Department of Medicine Nurse Manager, stresses why it is important to continue the use of masks and social distancing in order to keep ahead of the curve. Campbell Harvey, Duke Finance Professor, says the policy response to COVID-19 pandemic has been a black swan.

Jeff Currie, global head of Commodities Research for Goldman Sachs, explains the latest on the price war in the oil market. 

Howard Ward, Gabelli Funds CIO of Growth Equities, says we may reach new lows if earnings go negative. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, says oil price correction may have run its course. Jim Bianco, Bianco Research and Bloomberg Opinion Columnist, talks rates and when he thinks the market will get to zero. Jean Claude Trichet, Former ECB President, says a coordinated interest-rate cut this week could have induced panic and wasn't warranted. Tim Ryan, PwC U.S. Chairman and Senior Partner, says the coronavirus is a great example of how CEOs have to be prepared for anything. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Howard Ward, Gabelli Funds CIO of Growth Equities, says we may reach new lows if earnings go negative. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, says oil price correction may have run its course. Jim Bianco, Bianco Research and Bloomberg Opinion Columnist, talks rates and when he thinks the market will get to zero. Jean Claude Trichet, Former ECB President, says a coordinated interest-rate cut this week could have induced panic and wasn’t warranted. Tim Ryan, PwC U.S. Chairman and Senior Partner, says the coronavirus is a great example of how CEOs have to be prepared for anything.

David Folkerts-Landau, Deutsche Bank Chief Economist, says there is no question that the movement away from the political center is infecting monetary and fiscal policy. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, says the biggest impact from the coronavirus is coming from the quarantine. Henrietta Treyz, Veda Partners Director of Economic Policy, says Senator Romney will receive significant backlash for his conviction vote against President Trump. Mike Wilson, Morgan Stanley Chief U.S. Equity Strategist, says we are in a liquidity driven bull market and the market is being traded very defensively. Lanhee Chen, Hoover Institution Research Fellow and Policy Director for Mitt Romney's 2012 Presidential Campaign, reacts to Senator Mitt Romney's decision to vote to convict President Trump of abusing his power. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

David Folkerts-Landau, Deutsche Bank Chief Economist, says there is no question that the movement away from the political center is infecting monetary and fiscal policy. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, says the biggest impact from the coronavirus is coming from the quarantine. Henrietta Treyz, Veda Partners Director of Economic Policy, says Senator Romney will receive significant backlash for his conviction vote against President Trump. Mike Wilson, Morgan Stanley Chief U.S. Equity Strategist, says we are in a liquidity driven bull market and the market is being traded very defensively. Lanhee Chen, Hoover Institution Research Fellow and Policy Director for Mitt Romney's 2012 Presidential Campaign, reacts to Senator Mitt Romney's decision to vote to convict President Trump of abusing his power.

Alberto Gallo, Algebris Investments Head of Macro Strategies, says many global positive-yielding bonds could be zombies. Kathy Jones, Charles Schwab Chief Fixed Income Strategist, sees an uptick in inflation expectations for 2020. Jeff Currie, Goldman Sachs International Global Head of Commodities Research, says the U.S.-China trade war is exacerbating structural issues in the oil market, not causing them. And Constance Hunter, KPMG Chief Economist and NABE President, thinks the chances for a phase one trade deal are slim. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Alberto Gallo, Algebris Investments Head of Macro Strategies, says many global positive-yielding bonds could be zombies. Kathy Jones, Charles Schwab Chief Fixed Income Strategist, sees an uptick in inflation expectations for 2020. Jeff Currie, Goldman Sachs International Global Head of Commodities Research, says the U.S.-China trade war is exacerbating structural issues in the oil market, not causing them. And Constance Hunter, KPMG Chief Economist and NABE President, thinks the chances for a phase one trade deal are slim.

Chris Marangi, Gabelli Funds Co-CIO, says the market is pivoting towards value from momentum. Jeff Currie, Goldman Sachs International Global Head of Commodities Research, recommends getting long commodities today. Geoffrey Yu, UBS Private Banking CIO, says the dollar has topped out but it doesn't mean we're starting a dollar bear trend. Deborah Aitken, Bloomberg Intelligence Senior Analyst of Luxury Goods, sees the LVMH Tiffany tie-up as mutually beneficial for both companies, particularly when it comes to expanded market share in the luxury jewelry sector. Sonali Basak, Bloomberg TV & Radio Finance Reporter, says Charles Schwab aims to diversify their business in buying TD Ameritrade. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Chris Marangi, Gabelli Funds Co-CIO, says the market is pivoting towards value from momentum. Jeff Currie, Goldman Sachs International Global Head of Commodities Research, recommends getting long commodities today. Geoffrey Yu, UBS Private Banking CIO, says the dollar has topped out but it doesn't mean we're starting a dollar bear trend. Deborah Aitken, Bloomberg Intelligence Senior Analyst of Luxury Goods, sees the LVMH Tiffany tie-up as mutually beneficial for both companies, particularly when it comes to expanded market share in the luxury jewelry sector. Sonali Basak, Bloomberg TV & Radio Finance Reporter, says Charles Schwab aims to diversify their business in buying TD Ameritrade.

Russ Koesterich, BlackRock's Global Allocation Team Portfolio Manager, says our economy is increasingly dependent on the consumer. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says iron ore is the "canary in the coal mine." Sarah Halzack, Bloomberg Opinion Columnist, recaps Walmart earnings. John Herrmann, Mufg Securities Americas Director of U.S. Rate Strategy, says the U.S. job market is still resilient. And Julian Jackson, "De Gaulle" Author, discusses France's history and its reflection on present day politics.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Russ Koesterich, BlackRock's Global Allocation Team Portfolio Manager, says our economy is increasingly dependent on the consumer. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says iron ore is the "canary in the coal mine." Sarah Halzack, Bloomberg Opinion Columnist, recaps Walmart earnings. John Herrmann, Mufg Securities Americas Director of U.S. Rate Strategy, says the U.S. job market is still resilient. And Julian Jackson, "De Gaulle" Author, discusses France's history and its reflection on present day politics. 

David Folkerts-Landau, Deutsche Bank Head of Research and Group Chief Economist, says Europe needs a unified banking system. Bloomberg's Anna Edwards discusses the U.K. Parliament's next steps. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says there's slower demand for copper and other base metals in China. Kristina Hooper, Invesco Chief Global Market Strategist, expects global economic data to hold up.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

David Folkerts-Landau, Deutsche Bank Head of Research and Group Chief Economist, says Europe needs a unified banking system. Bloomberg's Anna Edwards discusses the U.K. Parliament's next steps. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says there's slower demand for copper and other base metals in China. Kristina Hooper, Invesco Chief Global Market Strategist, expects global economic data to hold up. 

Troy Gayeski, SkyBridge Capital Partner, says the U.S. economy is the most isolated from other markets. Jeff Currie, Goldman Sachs Head of Commodities Research, favors oil out of the cyclical commodities. Will Power, Baird Senior Research Analyst, says Apple can capitalize on the 1.4 billion active devices they have globally. Julia Coronado, President & Founder of Macropolicy Perspectives, says she will focus on balance sheet comments in tomorrow's Fed meeting. And Admiral James Stavridis, Former NATO Supreme Allied Commander Europe, says Brexit is bad news for NATO.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Troy Gayeski, SkyBridge Capital Partner, says the U.S. economy is the most isolated from other markets. Jeff Currie, Goldman Sachs Head of Commodities Research, favors oil out of the cyclical commodities. Will Power, Baird Senior Research Analyst, says Apple can capitalize on the 1.4 billion active devices they have globally. Julia Coronado, President & Founder of Macropolicy Perspectives, says she will focus on balance sheet comments in tomorrow's Fed meeting. And Admiral James Stavridis, Former NATO Supreme Allied Commander Europe, says Brexit is bad news for NATO. 

Don Rissmiller, Strategas Research Partners, thinks the Fed should increase clarity on housing and inflation expectations. Kona Haque, ED&F MAN Head of Commodities Research, says the trade story will drive commodities' sentiment in 2019. Marvin Barth, Barclays Head of FX & EM Macro Strategy Research, says President Trump has realized it is a mistake to undermine people's confidence in institutions. Mark McCormick, TD Securities Head of FX Strategy North America, thinks reserve currencies will strengthen again next year. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Don Rissmiller, Strategas Research Partners, thinks the Fed should increase clarity on housing and inflation expectations. Kona Haque, ED&F MAN Head of Commodities Research, says the trade story will drive commodities' sentiment in 2019. Marvin Barth, Barclays Head of FX & EM Macro Strategy Research, says President Trump has realized it is a mistake to undermine people's confidence in institutions. Mark McCormick, TD Securities Head of FX Strategy North America, thinks reserve currencies will strengthen again next year.

Jeff Currie, Goldman Sachs Global Head of Commodities Research, explains how big oil companies are adapting to a de-carbonized world. Eric Ross, Cascend Securities Chief Investment Strategist, analyzes  the "Apple ecosystem." Betsey Stevenson, University of Michigan Professor & Former Chief Economist of the U.S. Department of Labor, says we have never seen a higher wage gap between workers with college degrees and those without. Kevin Hassett, Council of Economic Advisers Chairman, says the U.S. is seeing real wage growth.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jeff Currie, Goldman Sachs Global Head of Commodities Research, explains how big oil companies are adapting to a de-carbonized world. Eric Ross, Cascend Securities Chief Investment Strategist, analyzes  the "Apple ecosystem." Betsey Stevenson, University of Michigan Professor & Former Chief Economist of the U.S. Department of Labor, says we have never seen a higher wage gap between workers with college degrees and those without. Kevin Hassett, Council of Economic Advisers Chairman, says the U.S. is seeing real wage growth. 

Is demand from China the dominant factor driving oil and metal markets, or is its influence overstated? Ed Morse, Global Head of Commodities Research at Citigroup, and Josh Mahony, market analyst at IG, give their opinions, and discuss trading strategies for the coming months. See acast.com/privacy for privacy and opt-out information.

Jeff Currie, Goldman Sachs Global Head of Commodities Research & Partner, says they are bullish on owning oil. Werner Hoyer, European Investment Bank President, says Europe is behind in investment. Michael R. Bloomberg, Former Mayor of New York City & Bloomberg LP Founder, says the U.S. needs to have access to China's markets. Angel Gurria, OECD Secretary General, says it is crucial that trade continuous to drive growth. And Roger Ferguson, TIAA CEO & Former Federal Reserve Vice Chair, discusses the Fed rate decision due this afternoon.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jeff Currie, Goldman Sachs Global Head of Commodities Research & Partner, says they are bullish on owning oil. Werner Hoyer, European Investment Bank President, says Europe is behind in investment. Michael R. Bloomberg, Former Mayor of New York City & Bloomberg LP Founder, says the U.S. needs to have access to China's markets. Angel Gurria, OECD Secretary General, says it is crucial that trade continuous to drive growth. And Roger Ferguson, TIAA CEO & Former Federal Reserve Vice Chair, discusses the Fed rate decision due this afternoon. 

Today we feature Abby Joseph Cohen, Goldman Sachs Advisory Director & Senior Investment Strategist. She joins the usual suspects and Bloomberg Intelligence's Paul Sweeney to talk tech regulation and what's trending at hedge funds. Jeff Currie, Goldman Sachs Global Head of Commodities Research, lays out which EM currencies are most vulnerable to oil prices. And Mary Lovely, Peterson Institute Senior Fellow & Syracuse University Professor, thinks in general, the idea that the U.S. has the upper hand in trade talks is mistaken.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Today we feature Abby Joseph Cohen, Goldman Sachs Advisory Director & Senior Investment Strategist. She joins the usual suspects and Bloomberg Intelligence's Paul Sweeney to talk tech regulation and what's trending at hedge funds. Jeff Currie, Goldman Sachs Global Head of Commodities Research, lays out which EM currencies are most vulnerable to oil prices. And Mary Lovely, Peterson Institute Senior Fellow & Syracuse University Professor, thinks in general, the idea that the U.S. has the upper hand in trade talks is mistaken. 

Cervantes once said, “Truth will rise above falsehood as oil above water,” and few speak the truth about oil with as much life experience as Ed Morse, Global Head of Commodities Research at Citigroup. With over 45 years of experience in energy markets and international affairs, Ed joins the ICE House to bring us on a journey of how oil moves markets. The price of crude oil and the fundamentals that drive the global oil market are critically important to businesses and consumers around the world, and Ed explains it in a way that we can all understand. Inside the ICE House: https://www.theice.com/podcast/inside-the-ice-house

Carl Weinberg, High Frequency Economics Founder, says he likes to think that President Trump's handlers are sending him to Davos to repair ties damaged over the past year. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says shorting base metals in the midst of an economic expansion is a very dangerous proposition. Ernest Moniz, former U.S. Energy Secretary, says the denuclearization of the Korean Peninsula is a long-term goal. Bill Gross, Janus Henderson Fund Manager, says we're not headed to investment armageddon.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Carl Weinberg, High Frequency Economics Founder, says he likes to think that President Trump's handlers are sending him to Davos to repair ties damaged over the past year. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says shorting base metals in the midst of an economic expansion is a very dangerous proposition. Ernest Moniz, former U.S. Energy Secretary, says the denuclearization of the Korean Peninsula is a long-term goal. Bill Gross, Janus Henderson Fund Manager, says we're not headed to investment armageddon. 

Joseph Stiglitz, Columbia University Professor, says the tax 'trigger' in the proposed tax bill is the worst kind of economic policy that you can imagine. Yanis Varoufakis, Former Finance Minister of Greece, says the architecture of the European economy can't sustain the shockwaves of this post globalization era. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, says its very surprising that the oil markets have not moved higher given the strength of the fundamentals and geopolitical risks. James Stavridis, Tufts Fletcher School Dean, says the chances of war in the Korean Peninsula have gone up. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Joseph Stiglitz, Columbia University Professor, says the tax 'trigger' in the proposed tax bill is the worst kind of economic policy that you can imagine. Yanis Varoufakis, Former Finance Minister of Greece, says the architecture of the European economy can't sustain the shockwaves of this post globalization era. Jeffrey Currie, Goldman Sachs Global Head of Commodities Research, says its very surprising that the oil markets have not moved higher given the strength of the fundamentals and geopolitical risks. James Stavridis, Tufts Fletcher School Dean, says the chances of war in the Korean Peninsula have gone up.

Jan Hatzius, Goldman Sachs' chief economist, and Jeff Currie, global head of Commodities Research, explain why volatility in the oil, equity and credit markets could be sending false signals about the underlying strength of the broader economy. This podcast was recorded on February 23, 2016. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2016 Goldman Sachs. All rights reserved.

Jeff Currie, global head of Commodities Research at Goldman Sachs, explains why prolonged oversupply and steady production out of the US and OPEC will continue to hold down oil prices, and the feedback loop driving down commodity prices around the world. This podcast was recorded on September 11, 2015. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2015 Goldman Sachs. All rights reserved.

Jeff Currie, global head of Commodities Research at Goldman Sachs, discusses the surge in US oil production, the changing role of OPEC and how lower oil prices are impacting the global economy. This podcast was recorded on December 15, 2014 This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity.