Goldman Sachs See Brent Retesting $80 Late This Year

Goldman Sachs See Brent Retesting $80 Late This Year

Goldman Sachs see Brent retesting 80 dollars late this year rather than summer, said in a Goldman Sachs piece on oil, the investment bank’s expectations.

“US oil policies may leave this occurring late this year rather than this summer as we previously expected” it said, citing “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 Goldman Sachs says it remains robust.