Benzinga
  • last year
Goldman Sachs analysts forecast Brent crude oil prices to rise to $86 per barrel this quarter, a nearly 7% increase from current levels. Healthy consumer demand and solid summer demand for transportation and cooling will push the oil market into a sizable third-quarter deficit. Recent oil price declines were exacerbated by OPEC+ plans to unwind output cuts starting in October. Brent crude is trading just above $80 per barrel, while WTI is just over $76 per barrel.
Transcript
00:00It's Benzinga and here's what's on the block.
00:02Goldman Sachs analysts forecast Brent Crude oil prices to rise to $86 per barrel this
00:07quarter, a nearly 7% increase from current levels.
00:11Healthy consumer demand and solid summer demand for transportation and cooling are expected
00:15to push the oil market into a sizable third quarter deficit.
00:19Recent oil price declines were exacerbated by OPEC Plus plans to unwind output cuts starting
00:24in October.
00:25Brent Crude is currently trading just above $80 per barrel, while WTI is just over $76
00:31per barrel.
00:32For all things money, visit Benzinga.com.

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