Goldman Sachs raises oil price forecasts on tight supply

Goldman Sachs Group, Inc.

Goldman Sachs Group, Inc.

GS

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SINGAPORE, April 27 (Reuters) - Goldman Sachs has raised its oil price forecasts for the fourth quarter to $90 a barrel for Brent crude and $83 for U.S. West Texas Intermediate (WTI), on lower output from the Middle East.

"The economic risks are larger than our crude base case alone suggests because of the net upside risks to oil prices, unusually high refined product prices, products shortages risks, and the unprecedented scale of the shock," GS analysts led by Daan Struyven said in an April 16 note.


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