Snippet from Goldman Sachs on oil:
- Oil demand growth will likely remain solid
- Core OPEC supply to remain low in 2024
- GS expect supply growth outside core OPEC to slow down in 2024, especially in the US
- postpandemic easing in supply constraints and higher-than-expected oil supply from certain sanctioned economies are one-off factors and unlikely to further boost supply growth
- recent oil slump is due to supply surprise
- forecasts Brent crude oil to average USD 92/bbl in 2024
This article was written by Eamonn Sheridan at www.forexlive.com.