Goldman Discovers An Unexpected Source Of Demand For 1 Million b/d Of Oil

Goldman Discovers An Unexpected Source Of Demand For 1 Million b/d Of Oil

From zerohedge.com

Having recently turned even more bullish on the oil market, bringing forward up its year-end $65 Brent price target to the summer on Monday, overnight Goldman's commodity team turned even more bullish on oil, "discovering" an unexpected source of oil demand in the near term, which could lead to even higher oil prices in coming days. Specifically, according to to Goldman's Damien Courvalin, global oil demand will be boosted by at least 1 million b/d in the coming weeks as cold weather spurs the use of diesel for power generation. As Courvalin explains, frigid temperatures in Asia and Europe in the face of LNG supply ... (full story)

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