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.
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."
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