Goldman Sachs Predicts $20 Oil

14.09.2015 / 14:03

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Goldman Sachs joined a long list of banks that have cut their oil price projections amid an ongoing oil supply glut and a slowdown in China’s economy. The situation became even more dire after Saudi Arabia rejected OPEC’s idea of cutting oil production. For 2016, Goldman Sachs revised their price projections from $57 to $45 for U.S. crude oil and $62 to $49.50 for Brent crude oil. In a research note entitled “Lower for even longer,” Goldman analysts said, “the oil market is even more oversupplied than we had expected and we forecast this surplus to persist in 2016.” The oversupply could lead to oil prices as low as $20 per barrel, albeit this might not be the “base case.”
Source: Investopedia

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Goldman Sachs Predicts $20 Oil

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