While central bank policies worry market watchers, investors continue to eye oil as the possibility of a crude production freeze remains tepid. Currie thinks OPEC's ability to run the cartel under a low oil price environment is limited by the "fast-cycle nature of shale."
"Russia was already at peak production, Saudi Arabia was not going to invest anymore, so it was really no sweat for them to make this commitment," he noted, adding that Goldman doesn't see changes in fundamentals.
Brent crude futures were down $1.02 to $40.05 a barrel, having earlier this week reached $41.48, the highest level since Dec. 9.
U.S. crude settled at $37.84 a barrel, down 45 cents, or 1.18 percent, having hit $38.51 on Tuesday, also its highest since Dec. 9.
"Once the market begins to rebalance, we'll start to see evidence of a deficit and actually draws in inventory, then you'll get the green light to start to move higher," Currie said forecasting three to six months of volatility left.
— Reuters contributed to this report.