Goldman Sachs is not expecting oil prices to jump too much in coming weeks
But out to next year it remains bullish, sees a gradual recovery in oil demand globally and OPEC+ production cuts, shut-ins elsewhere
- "Oil production has started to decline quickly
- Demand is also beginning to recover from a low base, led by a restarting Chinese economy … transportation demand in developed market economies"
Goldman Sachs price projections:
- WTI in 2021 to $51.38 per barrel (from $48.50)
- Brent to $55.63 a barrel (from $52.50)
