Goldman Sachs cuts end-28 oil price forecast to $70 from $115 a barrel

, as a result of a new assessment of the impact of the financial crisis, Goldman Sachs cut its fourth-quarter 2008 oil price forecast and its end-2008 target price to $75 and $70 per barrel, respectively, and the average oil price estimate for 2009 to $86, October 13 ( Xinhua ) Goldman Sachs analysts wrote in their report that the depth and duration of the global financial crisis had clearly underestimated , as well as the impact of the crisis on economic growth and commodity demandAnalysts at Goldman Sachs, led by Jeffrey Currie and Giovanni Serio, cut their fourth-quarter west Texas light crude oil price estimate to $75 from $110 a barrel and the year-end target to $70 from $115 a barrelanalysts also cut their 2009 price estimates, which were cut to $86 from $123 a barrelGoldman Sachs Cut its price estimate for the end of 2009 to $107 from $125, as a result of a new assessment of the impact of the financial crisis, Goldman Sachs cut its fourth-quarter oil price forecast and its end-2008 target price to $75 and $70 per barrel, respectively, and the average oil price estimate for 2009 to $86, October 13 ( Xinhua ) Goldman Sachs analysts wrote in their report that the depth and duration of the global financial crisis had clearly underestimated , as well as the impact of the crisis on economic growth and commodity demandAnalysts at Goldman Sachs, led by Jeffrey Currie and Giovanni Serio, cut their fourth-quarter west Texas light crude oil price estimate to $75 from $110 a barrel and the year-end target to $70 from $115 a barrelanalysts also cut their 2009 price estimates, which were cut to $86 from $123 a barrelGoldman Sachs Cut its price estimate for the end of 2009 to $107 from $125(name)