Goldman Sachs $100 / barrel oil forecast is getting trotted out again

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Goldman Sachs $100 / barrel oil forecast is getting trotted out again

<p>I seem to be posting the 'Goldman Sachs forecast $100 oil' around once a week or so. </p><p>This, for example from February 5:</p><ul><li><a href="https://www.forexlive.com/news/goldman-sachs-says-oil-demand-to-outstrip-supply-later-in-2023-a-serious-problem-in-2024-20230205/" target="_blank" rel="follow">Oil will rise back above $100 a barrel this year</a></li></ul><p>They're at it again, same dollar number forecast. Not that there is anything wrong with that, just don't treat it as new news. </p><p>In a nutshell, crude prices should rise to $100/bbl by the end of the year due to </p><ul><li>underinvestment </li><li>shale constraints </li><li>OPEC discipline </li><li>and strong Chinese demand</li></ul><p>From the horse's mouth, GS say $100 by the end of the year is on the radar:</p><ul><li>"as the market pivots back to deficit with underinvestment, shale constraints and OPEC discipline ensuring supply does not meet demand"</li></ul><p>---</p><p>Its been heavy going for the stuff:</p><p>While the <a href="https://www.forexlive.com/news/stocks-close-near-lows-20230221/" target="_blank" rel="follow">slide </a>for equities on Tuesday had fingers pointing at strong economic data likely to incite further Federal Reserve rate hikes the moribund oil price has fingers pointing at a weaker economy weighing on demand. Go figure. </p>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Goldman Sachs $100 / barrel oil forecast is getting trotted out again

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