(Ecofin Agency) – According to forecasts from the US investment bank Goldman Sachs, the price of a barrel is expected to climb to 65 dollars by the end of next year, driven by the discovery of an effective vaccine against the coronavirus , which will stabilize demand in particular.
The financial institution Goldman Sachs expects the price of Brent to reach $ 65 per barrel in the third quarter of 2021. This prognosis would be possible thanks to the availability from next spring of a vaccine against the coronavirus pandemic, which is currently raging and which has particularly affected fuel demand and prices.
Indeed, that “will help support global growth and demand for oil, especially for jetsThe analysts said. They add that the resilience of spot prices despite the slowdown in inventory drawdowns this summer is due to steadily rising prices over the long term.
Demand for oil is therefore expected to increase by 3.7 million barrels per day between January and August next year, while supply will remain capped thanks to continued OPEC + production cuts and a slight increase in l offer excluding OPEC.
Note that oil reached its highest level in 5 months this week thanks to positive economic news from China, the weakness of the greenback and the program of the state oil company of the United Arab Emirates which aims to reduce the 30% crude oil supply in October.
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