Goldman Sachs has cut its oil price forecast by $10 to $100 per barrel, citing lockdowns in China that would dampen demand for the commodity. The investment bank’s analysts also noted the increased exports of Russian oil before the European Union embargo goes into effect next month as another reason for the forecast revision, according to ForexLive.
Just how much the oil price forecast context has changed this year shows in Goldman’s forecasts from January, when the bank warned that Brent could top $100 per barrel at some point…Goldman Sachs Slashes Oil Price Forecast By $10
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