Goldman Sachs cuts its long-term oil forecasts

Market news

19 May 2015

Goldman Sachs cuts its long-term oil forecasts

Goldman Sachs lowered its crude oil price forecasts. It cut it Brent oil price forecast to $60-$65 for 2016-2019 and to $55 for 2020.

Goldman Sachs expects a $5 a barrel spread between Brent and WTI crude through 2016-2020.

The bank said that global oil demand will be covered by improved and effective U.S. shale oil and higher production from OPEC.

Short-term oil forecasts were upgraded. Goldman Sachs projects Brent crude oil this year at $58 a barrel, up from a previous estimate of $52, and WTI crude oil at $52 a barrel, up from a previous estimate of $48.

Moody's launches the first credit rating agency dedicated to the growing European public sector debt market

Asia Pasific Stocks closed:

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.