MARKETS

Goldman Sachs lowers its oil price forecast

GOLDMAN Sachs lowered its oil price forecast by US$10 to US$100 per barrel for the fourth quarter of 2022, citing rising Covid-19 concerns in China and a lack of clarity over the plan by the G7 to cap Russian oil prices, CNBC reported yesterday.

Tim Daiss
Goldman Sachs lowers its oil price forecast

"The market is right to be anxious about forward fundamentals, due to significant Covid cases in China and a lack of clarity on the implementation of the G7′s price cap," Goldman economists said in a note....

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