Goldman Sachs Raises Oil Price Forecast Following OPEC+ Cut ...Middle East

Hours after OPEC+ announced it would reduce its combined oil production by more than 1 million bpd, Goldman Sachs issued a revision of its oil price forecast, raising it to $95 from $90 at the end of the year for Brent crude. The bank also raised its Brent crude forecast for 2024, now seeing it at $100 at the end of the year from an earlier projection of $97. Last month, Goldman Sachs said that crude oil prices could rise to $107 per barrel if OPEC stood by its production targets. At the time, Brent was trading at around $84 per barrel. In that…

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