Goldman Sachs downgrades Oil-price forecast

Goldman Sachs analysts, in their latest research note, downgraded the estimations for oil prices for this year, citing a potential rise in shale gas production, new projects and OPEC restrictions, CNBC reports.

Key Points:

An average of $55.39 per barrel seen for Brent from its previous estimate of $56.76 a barrel.

It also lowered its expectations for WTI to $52.92 per barrel from $54.80.

"We believe we are in a lower for longer environment until there is greater evidence shale deliverability is surprising to the downside or OPEC runs out of spare capacity."

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.