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Forecast of oil from Goldman Sachs

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#1
Bikoitza

Posted 17 October 2016 - 02:40 PM

Bikoitza

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Economists at Goldman Sachs once again revised down its forecasts for oil prices. Brent and WTI 2015-2016 Quotes year will remain low in the background saving oversupply, while the fall in prices can take catastrophic - prices could fall to $ 20 a barrel. Forecast of the average cost of Brent for 2015 decreased to $ 53.7 per barrel compared to $ 58.2 in May, the expected per barrel, WTI - up to $ 48.1 per barrel compared to $ 52 per barrel in May. Brent price forecast for 2016 downgraded by analysts to $ 49.5 per barrel from $ 62 a barrel, the forecast for WTI - up to $ 45 per barrel to $ 57 per barrel.

"The oil market is saturated, even more significantly than expected, and we expect preservation of oversupply in 2016 - said an analyst at Goldman Sachs Damien Kurvalin -. For this reason, we lower oil price forecasts." And if the rate of global oil production growth will not change, prices can and do fall to $ 20 a barrel when the supply of raw materials to exceed logistical capacity and oil storage capacity, say the bank economists. "This decline will be short, it will quickly change the balance of supply and demand", - explained in Goldman Sachs. The probability of falling oil prices to a level of $ 20 per barrel is getting higher, but the market decline is not a basic bank forecast scenario stipulated in Goldman Sachs.

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