Goldman says oil to surpass USD 80 with market likely balanced

Wall Street bank Goldman Sachs estimates that Brent crude will reach USD 75 over the next three months and surpass USD 80 within six months.

Photo: SaudiAramco

Goldman Sachs Group Inc. hiked its short-term crude oil price forecast by as much as 33 percent, saying the market is now likely balanced. 

The bank now estimates Brent will reach USD 75 a barrel over the next three months and will climb to USD 82.50 within six months, analysts including Damien Courvalin wrote in an emailed report. Their previous estimate for both time periods was USD 62 a barrel.

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