“Goldman Sachs” expects the price of Brent to exceed $ 90 by the end of the year

Goldman Sachs said a strong rebound in global oil demand could push Brent crude prices above the year-end forecast of $ 90 a barrel.

The US investment bank added that it expects oil demand to reach pre-Covid-19 levels soon, at around 100 million barrels per day, with consumption in recovery in Asia after a shifted delta wave.

The bank also predicted that switching from gas to oil could add at least one million barrels per day to crude oil demand.

Goldman Sachs does not anticipate any slowdown in oil prices in the near term, as it has indicated that demand will rise again in the near term, stronger than expected.

This comes with the reopening of more countries and the easing of restrictions, in amid the success of the vaccination campaigns against the Crown.

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