A research note released by U.S. investment bank Goldman Sachs has revealed a drop in its estimates for crude oil prices in 2023 amid concerns about the risks of recession and financial crisis affecting international banks .
Goldman Sachs said in its note published on Sunday evening that the price of a barrel of Brent could reach an average of 94 dollars over the next twelve months, against an average of 100 dollars, announced in the estimates for the month of January. last.
These estimates were made in the context of growing fears of a global recession, which could worsen due to the banking crisis in the United States and Europe.
In the last ten days, three American banks have gone bankrupt, they are Silvergate Capital, Silicon Valley Bank and Signature Bank. These bankruptcies led to a fall of more than 15% in the shares of American banks.
In this context, the American Investment Bank has estimated that oil prices will be negatively impacted until the first half of 2024, so that the average price of a barrel of Brent will reach 97 dollars against the 100 dollars previously forecast.