Goldman Sachs: Raises Q2 2017 WTI & Brent price forecasts

Dhwani Mehta FXStreet

Analysts at Goldman Sachs published their outlook on Oil prices for this month and year ahead in its latest note.

Key Quotes:

“We expect that the potential ramp up in Libya and a stronger dollar will likely further limit the near-term upside to prices and our December WTI price forecast remains at $ 50/bbl”

“We are raising our Q217 WTI price forecast to $ 57.5/bbl ($ 55/bbl), $ 59/bbl Brent beyond H117”

“We expect that the global market will remain balanced, with Brent prices between $ 55/bbl and $ 60/bbl”

“We are smoothing out our medium-term price forecast, with our H217 and 2018 Brent forecast now $ 58/bbl (prev $ 63/bbl) & $ 55/bbl for WTI (prev $ 51.5/bbl)”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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