Goldman Sachs still expects crude oil to rise to $80 per barrel by the end of the year despite reports about progress on U.S.- Iranian talks about the lifting of sanctions. According to a note released by the bank's analysts, the recovery in demand made possible by mass vaccinations will offset the effect of additional supply volumes from Iran, per a Reuters report.
"The case for higher oil prices therefore remains intact given the large vaccine-driven increase in demand in the face of inelastic supply," Goldman analysts said. Last week, Iranian…Goldman Sees $80 Oil This Year Despite Pending Iran Deal
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