Goldman increases 2019 oil price forecasts amid supply cuts, sanctions
Goldman Sachs has raised its forecast for crude oil prices this year, with supply hit by the “shock and awe” implementation of OPEC-led output cuts and by US sanctions on Iran and Venezuela.
The investment bank said in a note dated April 8 that it now expects benchmark Brent crude prices to average $66 per barrel in 2019, compared with its previous estimate of $62.50.
It sees US crude oil averaging $59.50 per barrel, up from its last forecast of $55.50.
