Goldman Sachs Revises Oil Price Forecast Upward Due to Supply Tightness
BlockBeats News, April 27th - Influenced by the production decline in the Middle East, Goldman Sachs has raised its fourth-quarter Brent crude oil price forecast to $90 per barrel and WTI crude oil price forecast to $83 per barrel. The Goldman Sachs analyst team stated in a report on April 26th: "Due to the net upward risk of oil prices, abnormally high refined oil prices, the risk of refined oil supply shortage, and the unprecedented scale of this shock, the economic risk is greater than what our single oil benchmark scenario shows." Goldman Sachs estimates that Middle East oil production has decreased by 14.5 million barrels per day, leading to a record-breaking global crude oil inventory decline in April at a daily rate of 11 to 12 million barrels. (FX678)
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