Brent crude to hit $75 as demand recovery outstrips supply: Goldman Sachs

Brent crude to hit $75 as demand recovery outstrips supply: Goldman Sachs

From arabnews.com

The price of a barrel of Brent crude is forecast to reach $75 in the third quarter of this year, according to energy analysts at US investment bank Goldman Sachs. The projection comes in the wake of a sustained rally in global oil prices as continued restrictions on supply – led by Saudi Arabia after its surprise 1 million barrels per day (bpd) voluntary cut in February – met increased demand as coronavirus disease (COVID-19) vaccines being rolled out around the world increased hopes of an economic recovery. “We now forecast that oil prices will rally sooner and higher, driven by lower expected inventories and ... (full story)

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