Has oil price fallen too much? Goldman Sachs: About to rebound by over 10%!
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Goldman Sachs expects Brent crude oil prices to rebound by over 10% in the next quarter, with an average price reaching $77 per barrel. Recently, oil prices have dropped significantly, with Brent crude oil falling below $70 per barrel for the first time and WTI crude oil also experiencing a decline. OPEC has lowered its global oil demand forecast, coupled with weak economic data from China and the U.S., triggering market concerns about oil consumption. However, Goldman Sachs points out that despite macro factors leading to selling pressure, physical market demand remains strong, which may indicate a reversal in oil prices
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