Goldman Sachs raises oil price forecast from $ 80 to $ 90 (year-end Brent)

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Goldman Sachs on Brent crude, claiming the next higher step for the price of oil is “from a cyclical market to a structural bull market”

Brent prices hit new highs since October 2018

  • We expect this rally to continue, with our year-end forecast for Brent of $ 90 / bbl versus $ 80 / bbl previously.

Although we have long had a bullish outlook on oil, the current deficit in global oil supply and demand is larger than expected, with the recovery in global demand due to the Delta impacting even faster than our forecasts. consensus above and global supply remaining below our lower level. consensus forecasts.

The current oil supply and demand deficit is larger than expected, with the recovery in global demand due to the Delta impacting even faster than our above consensus forecast and global supply remaining below our forecast below consensus.

GS looking for $ 90 in December – January.

Turning the bullish oil tracks:

Goldman Sachs on Brent crude, claiming the next higher step for the price of oil is "from a cyclical market to a structural bull market"

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