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Oil prices may soar above $100 this year – Goldman Sachs
Investment bank has predicted a “new supercycle” for energy assets this year Strengthening global demand and China’s reopening may push oil prices above $100 per barrel this year, Oil Price reported on Tuesday, citing a recent forecast by Goldman Sachs. The US investment bank expects Brent crude to trade at $105 per barrel by the fourth quarter of 2023 and says oil demand will surge by 2.7 million barrels per day (bpd) this year. However, in the second half of 2023 the market may return to a deficit, economists warned. The forecast comes as China announced massive oil-import quotas after reopening its borders and

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