Goldman’s Currie interview part 2: Supercycle set for capex surge that will elevate oil longer term

Head of commodity research says energy transition a key driver for the supercycle and Middle East the key engine for oil investment

The oil market will soon receive an elongated boost as the commodity supercycle looks to enter a new phase of capital spending, driven partly by the energy transition, says Goldman Sachs’ head of commodity research, Jeff Currie, in a wide-ranging interview with Petroleum Economist. You have talked up the fact that we are in a commodity supercycle, while some commentators suggest we are not quite there yet, perhaps because of recessions or other factors. How do you define a supercycle and how is the energy transition a key part of that theory? Jeff Currie, head of commodity research at Goldman Sachs Currie:  A commodity supercycle is not