Goldman cuts 2023 oil price forecast due to weakening demand outlook

Follow-ups -eshrag News:

Wed, 2022-09-28 09:11

RIYADH: Goldman Sachs on Tuesday cut its 2023 oil price forecast due to expectations of weaker demand and a stronger US dollar, but said the ongoing global supply disappointments only reinforced its long-term bullish outlook.

Goldman’s commodities research division lowered the forecast for next year by $17.5 per barrel on average, even as it saw a seasonally adjusted global oil market deficit in the fourth quarter of 2022 and in 2023.

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