2023-12-18 07:38:00
© Archyde.com. Goldman Sachs lowers its forecast for oil prices in 2024
Arabictrader.com – Goldman Sachs (NYSE:) published a note on Monday, in which its analysts reduced their expectations for oil and crude prices during the year 2024, as Goldman Sachs expects it to trade in a limited range, and the most prominent aspects of the note were the following:
- Goldman Sachs experts lowered their forecast for the expected trading range in 2024 to 70-90 per barrel, which is $10 per barrel lower than their previous forecast.
- A supply increase project by the United States is expected to help reduce…
- Goldman Sachs now expects only a small deficit in the oil market and a smaller rise in futures prices.
- 2024 is expected to see mainly range-bound movements in oil prices, with lower volatility.
- We expect OPEC+ production cuts to continue through 2025, and further cuts in the second quarter of 2024.
- After 36 months, Goldman Sachs expects the price of Brent crude to reach $72 per barrel, down by $2 per barrel from the previous forecast.
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