Goldman Sachs, JP Morgan raise Brent oil price forecasts post-OPEC+ move
|Following the OPEC+ decision to put off a supply increase until April, oil prices rallied to the fresh high since early 2020 on late Thursday.
The same pushed global bankers, including top-notch firms like Goldman Sachs and JP Morgan, to revise up their oil forecasts.
Goldman Sachs added $5 to its predictions for Q2 and Q3 2021 Brent prices, resulting in the $75 per barrel and $80 per barrel fresh levels.
JP Morgan, on the other hand, seems less bullish while adding $2-3 to 2021, 2022 predictions, respectively around $67 and $74 at the latest.
That said, the oil benchmark currently stays bid near $67.45, closer to the multi-month top marked the previous day.
Read: WTI consolidates recent gains around $64.00 during pre-NFP trading lull
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.