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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.

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