The expectations of investment banks for oil prices continue, inAfter similar expectations from Citibank and Barclays Bank yesterdayGoldman Sachs expects oil prices to continue rising until stocks are rebuilt, which are under pressure as Chinese demand recovers and production from Russia declines.
The bank said that Brent crude will need to average $135 a barrel over the next 12 months from July for global inventories to return to normal by late 2023.
This forecast is $10 more than the bank’s previous forecast.
Goldman Sachs added that global stocks are 75 million barrels less than previously expected, while the global deficit is estimated at 400,000 barrels per day on average in the third quarter.
