Goldman Sachs Predicts $100 Brent Oil Price, JPMorgan Foresees $120 Per Barrel
TL;DR Summary
Goldman Sachs has raised its 12-month ahead forecast for Brent Crude oil prices to $100 per barrel, citing stronger inventory draws due to extended OPEC+ cuts and global demand growth. The bank believes that lower OPEC oil supply and rising demand will outweigh the increase in U.S. oil production. While Goldman Sachs does not expect a sustained period of Brent holding above $105 next year, it also does not anticipate prices trading below $80 for an extended period.
- Goldman Sachs Raises Year-Ahead Brent Oil Forecast To $100 OilPrice.com
- Oil Prices Could Hit $120 Per Barrel on Further Supply Cuts: JPMorgan Markets Insider
- Goldman Sachs raises international oil price forecast to $100 a barrel CNBC
- Goldman Sachs Says Oil’s Going Back to $100 as OPEC+ Cuts Bloomberg
- Goldman Sachs says OPEC can sustain Brent in $80-$105 range in 2024 Reuters.com
- View Full Coverage on Google News
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