RIA Novosti quoted citing Goldman Sachs analysts said Global oil markets will face a shortage of oil as the global economy exits recession and supply fails to keep pace with recovery in demand.
Vedomosti referred to Goldman Sachs analyst Mr Jeffrey Currie who said in a report in London recently that oil prices were set to return to levels seen before the global financial crisis due to increasing demand from emerging economies and a declining supply caused by years of underinvestment in exploration and production.
Mr Currie said in the report that "By 2011, the market is back to capacity constraints. The financial crisis created a collapse in company returns which has significantly interrupted the investment phase."
Goldman Sachs report matches the company December forecast, which said that declining oil production levels in the world largest oilfields would push prices up to USD 90 per barrel in 2010 and USD 110 per barrel in 2011.
Goldman Sachs' report looks more optimistic compared with forecasts by other international institutions.