Goldman Sachs sees oil rallying into the summer. Here are the firm’s top stock picks to play it

SourceCNBC
SectorOil & Gas
CountryMiddle east

Oil prices are up more than 40% for 2021 amid a recovery in demand for petroleum products, and Goldman Sachs sees more upside for crude and energy stocks. hovered on Friday around its highest level since October 2018, trading at $70.61 per barrel. stood at $72.83, a level also not seen in more than two years.

Goldman sees Brent climbing to $80 this summer because of “a further large vaccine-driven increase in demand, including jet, in the face of mostly inelastic supply.”

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