Mumbai: Global financial major Goldman Sachs expects Brent crude oil prices to reach $110-per-barrel by next year, a 30% jump from the current levels of $85\/bbl. Oil analysts at Goldman Sachs say that the global demand-supply mismatch, with the current demand almost near the pre-Covid levels, is expected to push up crude prices over the next year.
\nA commensurate 30% rise in petro product prices in India would mean petrol prices could be near the Rs 150-per-litre mark and diesel Rs 140\/ltr. On Tuesday, the price of petrol in the city was Rs 113.4\/ltr while diesel was at Rs 104.4\/ltr.
\n\u201cWe estimate that global oil demand has surpassed 99 million barrels per day (mb\/d) and will shortly hit its pre-Covid level of 100 mb\/d as Asia rebounds after the Delta wave,\u201d Goldman Sachs analysts said in a recent note. \u201cIn addition, we estimate that gas-to-oil switching may be contributing at least 1 mb\/d to oil demand, with current gas forwards incentivising this through winter. While not our base-case, such persistence would pose upside risk to our $90\/bbl year-end Brent price forecast.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Mumbai: Global financial major Goldman Sachs expects Brent crude oil prices to reach $110-per-barrel by next year, a 30% jump from the current levels of $85\/bbl. Oil analysts at Goldman Sachs say that the global demand-supply mismatch, with the current demand almost near the pre-Covid levels, is expected to push up crude prices over the next year. A commensurate 30% rise in petro product prices in India would mean petrol prices could be near the Rs 150-per-litre mark and diesel Rs 140\/ltr. On Tuesday, the price of petrol in the city was Rs 113.4\/ltr while diesel was at Rs 104.4\/ltr. […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-445570","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/445570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=445570"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/445570\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=445570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=445570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=445570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}