Goldman Sachs oil forecast - see USD90/bbl Brent ceiling base case, risk to downside ...Middle East

Goldman Sachs on oil, in brief: Sees a $90/bbl ceiling in their base case of no geopolitical supply hits, and the risks to their $75-$90 range as modestly to the downside for oil pricesWe expect that healthy consumers and solid summer demand for transportation and cooling will push the oil market in a sizable Q3 deficit of 1.3mb/d"We therefore expect Brent to rise to $86/bbl in Q3, and still recommend our OPEC range trade (long Brent Dec24 $80/90 call spread)"Keeps 2025 average Brent forecast unchanged at $82/bbl, reflecting that a modest China-driven downgrade of 2024 demand growth to 1¼mb/d roughly offsets a modest 0.1mb/d downgrade to 2024 non-OPEC supply This article was

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