Goldman's $200-a-barrel oil pundit lowers his sights to $45

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Murti, who is paid hundreds of thousands of dollars for his uncanny ability to read markets and inform clients of future trends ahead of competitors, has changed tack in the wake of the worsening US recession.

While hindsight makes Murti's $200-a-barrel call seem bafflingly gung-ho, his powers of prediction gained a aura of divination after he warned in 2005 that oil would hit $100.

Ridiculed then, Murti was hailed a soothsayer when crude did indeed surge past the $100 mark.

Then, in May, with the full horror of the credit crunch yet to be unleashed, Murti said the "possibility of $150-$200 per barrel seems increasingly likely over the next six-24 months".

A flurry of unkind remarks from rival analysts followed. When it emerged that he had not one but two hybrid cars, he was called "anti-oil". Crude peaked at $147 a barrel in July, and has been on the slide ever since, leaving Murti's call open to increased derision.

US oil prices fell more than $2 today to $44.81 as the US car industry looked set for oblivion following the collapse of the bailout plan. Murti reckons it won't pick up until 2012 - just in time for the London Olympics.