Goldman Sachs is forecasting a 2013 average Brent crude oil price of $130 a barrel despite the poor economic outlook, as oil prices will need to continue rising in order to slow demand growth, the bank said in a note released Thursday.
Goldman Sachs is forecasting a 2013 average Brent crude oil price of
$130 a barrel despite the poor economic outlook, as oil prices will need to
continue rising in order to slow demand growth, the bank said in a note
released Thursday.
Goldman Sachs retained its 2012 average Brent crude oil price forecast at $120
a barrel, but said risks were intensifying to both the upside and downside.
The bank introduced a 2013 forecast of $126 a barrel for U.S. West Texas
Intermediate crude and kept its 2012 forecast for WTI at $112.50 a barrel.
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