Goldman Sachs Boosts Oil Price Predictions In Bullish Update ...Middle East

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Goldman Sachs Boosts Oil Price Predictions In Bullish Update
source : OILPRICE ( Middle East ) () 33
Goldman Sachs raised its 2022 price forecast for Brent crude from $99 to $104 per barrel. The increase was driven by the OPEC+ decision to reduce output by 2 million bpd. Although the 2-million-barrel figure is nominal and the actual output cut would be smaller, at around half that, the bank believes the physical oil market is tight enough to justify such price forecast updates. On a quarterly basis, Goldman sees Brent trading at $110 this quarter and rising to $115 per barrel in the first quarter of 2023. In arguably the most bullish part of Goldman’s…

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