[ad_1]
Goldman Sachs had been persistently amongst essentially the most bullish of analysts for oil costs. Its now issued its third downward revision of its Brent forecast within the final six months.
Dropped its Brent forecast for December to $86 a barrel
- down from its prior projection of $95 (and $100 earlier than that)
GS citing:
- Provide will increase from Russia, Iran and Venezuela (all are dealing with sanctions)
- Provide output from Russia has “almost absolutely recovered”
- Gaining recession fears
- persistent headwinds to larger costs from larger rates of interest
As background to the revision decrease, Jeff Currie, Goldman’s head of commodities analysis, stated in a Bloomberg Tv interview final week
- “We’ve got by no means been this flawed for this lengthy with out seeing proof to alter our views”
[ad_2]
Source link
