WTI seen higher at $ 64 in Q3 – Goldman Sachs

Dhwani Mehta FXStreet

Following their take on Brent oil, Goldman Sachs analysts are out with their outlook on the US oil, WTI, with the key highlights found below.

WTI price forecast raised to $ 64 in Q3.

WTI seen in the $55-$69 range over next 12 months

WT to average at $60 in 2019

The upward revision to the price forecasts is on the back of Iran, Venezuela, the biggest upside risks to oil market outlook while Saudi Arabia is unlikely to proactively increase output to make up for supply disruptions.

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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