Bloomberg: Goldman Sachs no longer forecasts oil price to rise to $100 per barrel
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Analysts at the American bank Goldman Sachs have revised their previous forecast of an increase in oil prices to $100 in the next 12 months. This is reported Bloomberg.
“Oil prices have collapsed despite rising demand in China, given the pressure on the banking sector, fears of a recession and the exit of investors,” Goldman Sachs says in a new forecast. “.
The situation around the Swiss bank Credit Suisse provoked a panic in the markets, which resulted in a decline in oil prices to a 15-month low.
After the decline in prices, the bank expects that the increase in oil production by OPEC countries, which, according to its previous forecasts, was supposed to begin in the second half of this year, will happen only in the third quarter of 2024. As for the oil prices themselves, according to the bank’s analysts, now a barrel of Brent blend will reach $94 in the next 12 months, and in the second half of 2024 it will trade at $97.
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