Home Forex More n Goldman Sachs raising its oil price forecast – OPEC+ output cut ‘very bullish’

More n Goldman Sachs raising its oil price forecast – OPEC+ output cut ‘very bullish’

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More n Goldman Sachs raising its oil price forecast – OPEC+ output cut ‘very bullish’

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This added update is via Reuters:

  • 2022 Brent price forecast to $104 per barrel from $99
  • 2023 forecast to $110 per barrel from $108
  • raised its fourth quarter 2022 and first-quarter 2023 Brent price forecast by $10 per barrel to $110 and $115 respectively

Goldman Sachs citing:

  • oil market’s buffers (stocks and spare capacity) remain critically low
  • and higher prices remain the key viable, long-term solution to increased inventories in the short term and higher supply capacity medium term

Oil chart update:

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