Oil- Goldman Sachs see Brent retesting $80 late this year rather than summer

Author: Eamonn Sheridan | Category: News

From a Goldman Sachs piece on oil, the investment bank's expectations and reasoning (in brief):

Still expects Brent Crude price to retest $80/bbl
  • "US oil policies may leave this occurring late this year rather than this summer as we previously expected"
GS cite:

Supply shifts create risk of an oil market move into surplus by August
  • continuing surge in Saudi production
  • Libya and Iran supply shifts also
Then see a fall in Iran exports bringing market back to a deficit in November 

  • Brent prices skewed to downside in the near term
  • On demand GS says it remains robust

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