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Goldman Sachs lowered its price forecasts for Brent crude oil in the third and fourth quarters to $110/b and $125/b, respectively

 Last Update: 2023-02-01
 Source: Internet
 Author: User

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oil price projections

crude oil forecast

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Goldman Sachs said in an Aug.
7 report that the recent decline in Brent crude prices was caused by low liquidity and "growing concerns," including concerns
about a recession, the release of the U.
S.
Strategic Petroleum Reserve (SPR) and the recovery of Russian production.
Analysts, including Damien Courvalin, said: "We believe that assuming these negative shocks are over, the likelihood of higher oil prices remains high, and the supply deficit in the market in recent months remains higher than we expected
.
" The bank lowered its Brent crude price forecasts for the third and fourth quarters to $110/b and $125/b, respectively, compared with $140/b and $130/b previously, and left unchanged at $125/b in 2023
.

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