In $ 100 per barrel places the price of oil the 2023 the Goldman Sachs, due to reduced production increases that will lead to insufficient demand-record.
The key scenario is for Brent to hover around $ 85 for 2022 and 2023, according to the house.
At the same time, analysts do not rule out further rise even at three-digit levels.
Goldman Sachs is positive about oil, even after this year’s 40% rally.
At the same time, he notes that the recent sell off is excessive, as concerns about restrictive measures due to the Omicron mutation are unjustified.
Analysts point out that the recent drop in prices by $ 10, shows that demand will be reduced by 5 million barrels per day for three months.
Also, the house expects that the demand for everything, from gasoline, diesel and plastics is currently at a record level, with consumption expected to reach new highs in 2022 and 2023, while adding that the use of aviation fuel will continue to be delayed due to travel restrictions associated with Covid, but some limited travel demand is likely to arise as borders reopen.