More on Goldman Sachs raising its oil price forecast – OPEC+ output cut ‘very bullish’ | Forexlive

This added update is via Reuters:

• 2022 Brent price forecast to $104 per barrel from $99
• 2023 forecast to $110 per barrel from $108
• raised its fourth quarter 2022 and first-quarter 2023 Brent price forecast by $10 per barrel to $110 and $115 respectively

Goldman Sachs citing:

• oil market’s buffers (stocks and spare capacity) remain critically low
• and higher prices remain the key viable, long-term solution to increased inventories in the short term and higher supply capacity medium term

Oil chart update: