Goldman Sachs raised its oil price forecast to $85

2022-07-27
  • Detail

Goldman Sachs raised its oil price forecast to $85 per barrel at the end of this year. According to the Washington report of upstream, Norway, on June 4, Goldman Sachs Group, one of the world's oldest and largest banks, headquartered in New York, said in a research report today, Goldman Sachs Group recently raised its oil price forecast for the end of 2009 from $65 to $85 per barrel, and raised its oil price forecast for the end of next year to $95 per barrel

on June 3, the oil price in the United States rose from the lowest point of $32.40 per barrel in the past five years in December last year to a new high of $69.05 per barrel in the past seven months

Goldman Sachs Group said that it expected oil prices to continue to rise in the second half of this year due to the specific economic stability and the continued reduction of oil supply by the organization of Petroleum Exporting Countries (OPEC)

since September last year, OPEC member states have agreed to reduce oil production by 4.2 million barrels a day, while OPEC member states have so far achieved the production reduction target of 80%. These factors have contributed to the rise of oil prices

However, Goldman Sachs said that even if OPEC increases its oil production next year, if it is used too frequently, the supply next year may still be insufficient due to lack of investment

in addition, Goldman Sachs Group also raised its 12-month US crude oil price target forecast from US $70 to US $90 per barrel

note: the reprinted contents are indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with their views or confirm the authenticity of their contents

Copyright © 2011 JIN SHI