© Reuters. Goldman raises oil price forecast after OPEC + cuts
Arabictrader.com – In its latest notes published Thursday evening, the famous American investment bank Goldman Sachs (NYSE 🙂 raised the average forecast for this year and 2023, following the decision by OPEC + to reduce production to highest pace since March 2020 at the time of outbreak closures.
The organization reduced its members’ oil production by 2 million barrels per day during the month of November, which has pushed oil prices to rise sharply as oil contracts are heading towards the largest weekly gains since. last March due to the decision.
Goldman Sachs expects oil prices to continue to rise in the future to be achieved, which prompted her to raise her expectations for the average price of a barrel of oil this year to $ 104, compared to $ 99 for expectations. and has also raised its expectations for the price per barrel for 2023 to $ 110 from $ 108 previously.
The Goldman Sachs note indicated that there is a possibility that oil prices will rise further if crude stocks are completely depleted.
