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Goldman Has Been Wrong on Oil All Along, Cramer Says

Longtime oil price bear Goldman Sachs (GS) adjusted its tune Monday calling for a near-term $50 target for the commodity due to a sooner-than-expected deficit to the global supply market.

"The oil market has gone from nearing storage saturation to being in deficit much earlier than we expected," Goldman said, adding that it now anticipates oil will reach $60 per barrel by the end of 2017.

But even though Goldman's newly "measured" outlook is in line with his longstanding estimate, TheStreet's founder Jim Cramer said Monday that the...