Goldman Sachs no longer expects oil at $100 this year after market rout – The National

Goldman Sachs no longer expects oil at $100 this year after market rout – The National

Goldman Sachs has reduced its oil price forecasts for 2023, citing growing crude supplies and lower demand.

The investment bank now expects Brent, the benchmark for two thirds of the world’s oil, to trade at $94 a barrel for the 12 months ahead and $97 in the second half of 2024.

It had previously projected that the benchmark would trade at $100 in both scenarios.