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Goldman Sachs Doubles Down on Bearish Oil Outlook Despite Rising Demand ...Middle East
Goldman Sachs analysts issued yet another update to their oil price forecast, reiterating expectations of weaker prices this year and next, on the back of substantial growth in non-OPEC supply—excluding U.S. shale. In a note, the analysts said “oil production growth from non-OPEC ex Russia ex shale top projects will likely accelerate to 1MB/d over the next two years”, adding that natural gas liquids production was also set for a rise over the period, thanks to the launch of new projects in Saudi Arabia and Qatar. The exclusion…
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