Reported about 1 year ago
Goldman Sachs analysts predict a significant jump in oil prices this summer as demand for transportation and cooling increases, with Brent crude prices expected to rise to $86 per barrel, nearly a 7% increase from current levels. Despite a recent downward trend, factors like OPEC+ unwinding output cuts and new Department of Energy orders for the Strategic Petroleum Reserve may stabilize prices. JPMorgan analysts believe the pullback is temporary and anticipate Brent to reach the high $80s to $90 range by September, while Wall Street forecasts lower prices in 2025 with JPMorgan predicting an average of $75 per barrel.
Source: YAHOO