Goldman maintain Brent crude oil range forecast: $70 - $90 despite China oil demand risk
Analysts at Goldman Sachs published a note earlier this week noting risks to the estimates of demand for crude oil from China, saying there were downside risk due to both the accelerated demand for electric vehicles, and less stimulus for the economy from macroeconomic policy.Despite this GS have maintained their Brent crude forecast for a range between $70 and $90. GS cite supply factors, noting their OECD Commercial Inventories Nowcast having fallen. This article was written by Eamonn Sheridan at www.forexlive.com.
Analysts at Goldman Sachs published a note earlier this week noting risks to the estimates of demand for crude oil from China, saying there were downside risk due to both the accelerated demand for electric vehicles, and less stimulus for the economy from macroeconomic policy.
Despite this GS have maintained their Brent crude forecast for a range between $70 and $90. GS cite supply factors, noting their OECD Commercial Inventories Nowcast having fallen. This article was written by Eamonn Sheridan at www.forexlive.com.
