Goldman Sachs “slash” their oil price forecast and I’m OK with that
Goldman Sachs' weekend oil note with updated forecasts, lower:
Brent projected at:
"Oil prices have plunged despite the China demand boom given banking stress, recession fears, and an exodus of investor flows"
- $94 a barrel for the 12 months ahead
- $97 a barrel in the second half of 2024
- versus $100 a barrel previously
"Historically, after such scarring events, positioning and prices recover only gradually, especially long-dated prices."
Goldman Sachs have been bullish oil, repeating that $100 forecast over and over and over again. Not any more.
I think we’ll be alright.
https://www.forexlive.com/news/gold...ecast-brent-to-94-vs-100-previously-20230319/“
Oil setup into next week and why you need to add, page-2
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