empty
 
 
27.09.2021 12:01 PM
Goldman Sachs projects oil to hit $ 100

This image is no longer relevant

Goldman Sachs and the Bank of America recently predicted oil prices to hit $ 100 around winter. They said demand should increase by then, which will push the minimum price to $ 85.

The assessment was revealed last Friday, when Goldman Sachs released its forecast for the last quarter of 2021. To be precise, they said oil will cost around $ 80 per barrel because a shortage of natural gas, combined with a colder-than-normal winter in Europe and Asia, could pose a risk of a $ 5 / bbl rise in prices from its fourth-quarter price forecast.

The investment bank noted that limited supply this winter will create a clear and potentially significant bullish catalyst for the oil market, outweighing the risk of declining global oil demand due to another COVID-19 wave.

Then, over the next six months, oil will cost $ 100 per barrel, said the global research team at the Bank of America. But this will happen only if the upcoming winter indeed turns out to be colder than usual.

This image is no longer relevant

Bank analysts said the weather will be the most important driver of development in the global energy markets.

Earlier, oil prices rose to nearly a three-year high, and interruptions in production on the world market have forced energy companies to withdraw large volumes of oil from reserves.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback