Oil prices may rise to $85 in Q4 2021: Goldman Sachs

21/09/2021 Argaam

Oil drilling rigs

A colder winter and a surge in global gas prices could push oil prices higher to $85 per barrel (bbl) in Q4 2021, Reuters reported, citing a Goldman Sachs note.

 

According to the US-based bank, higher global gas prices and a colder winter in Europe and Asia could boost demand for oil, driving a $5 per barrel upside risk to its fourth quarter 2021 Brent price forecast of $80 a barrel.

 

A colder winter could lead to a 900,000 barrels per day (bpd) increase in oil demand, the bank said.

 

Bank of America Global Research recently said it could bring forward its $100/bbl oil price target to the next six months from mid-2022 if the winter is colder than usual.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read