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Home News Foreign exchange Information ICYMI – Goldman Sachs Reduce Its 2023 Oil Value Forecasts, Citing A Weakening Demand Outlook | Forexlive

Foreign exchange Information ICYMI – Goldman Sachs Reduce Its 2023 Oil Value Forecasts, Citing A Weakening Demand Outlook | Forexlive

by Gregoire SAUVAGE
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Eamonn Sheridan - WatanNews

Eamonn Sheridan

Wednesday, 28/09/2022 | 02:06 GMT-0

28/09/2022 | 02:06 GMT-0

A analysis word from Goldman Sachs on oil.

Sees Brent crude oil averaging $100 per barrel during the last three months of the yr

  • down from its earlier forecast of $125

For 2023 sees Brent averaging $108 per barrel

  • down from its earlier $125

Stated it anticipated oil costs would doubtless rise from the present ranges citing:

  • “critically tight” market

On the decrease forecast, citing:

  • sturdy greenback
  • weakening demand
  • stay highly effective headwinds to costs into year-end.
  • But, the structural bullish provide set-up — because of the lack of funding, low spare capability and inventories — has solely grown stronger, inevitably requiring a lot larger costs

Extra:

  • “Whereas it might be shocking that oil is pricing such low development expectations, this displays the outsized exodus of traders, compelled away by the intense worth volatility this spring,”

This additionally from in a single day:

Oil replace:

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