© Reuters. An oil field in Texas in a photo from Reuters archive.
SINGAPORE (Reuters) – Goldman Sachs (NYSE: ) on Sunday raised its forecast for Brent crude futures prices after the surprise announcement from OPEC+ that it would adopt further production cuts.
The bank’s analysts said in a note that it had cut its forecast for OPEC+ production by 1.1 million barrels per day by the end of 2023.
They added that the December 2023 price forecast was raised by $5 to $95 per barrel, while the December 2024 forecast was raised by $3 to 100 per barrel.
(Prepared by Mahmoud Salama for the Arabic Bulletin)
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