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Goldman Sachs Chides Hedge Funds by Arguing the Case for Oil

(Bloomberg) Money managers who are reducing their bullish bets on oil are following a “dangerous” strategy, according to Goldman Sachs Group Inc. Demand will remain strong and concerns over economic growth will probably prove temporary, analysts including Jeffrey Currie wrote in a note, adding that U.S. shale and OPEC are unlikely to solve problems from potential supply disruptions. The bank also said the case for owning commodities has strengthened and raised its forecast for 12-month returns from raw materials to 8 percent from 5 percent.

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