On Monday (6/12/2021) at 07:33 WIB, the price of Brent oil was at US$ 71.45/barrel. Up 2.25% from last weekend’s position.
Meanwhile, the short sweet one costs US$ 67.82/barrel. Up 2.35%.
Goldman Sachs, a bank from the United States (US), has predicted that oil prices will rise. Last October, Goldman Sachs estimated that the price of Brent oil could touch US$ 90/barrel by the end of this year.
“Production shale oil The slowdown occurred in line with the normalization of oil production capacity of OPEC (Organization of Oil Exporting Countries) countries. If a nuclear deal with Iran is not reached until next year, then oil prices will be bullish,” Goldman Sachs research said.
But now it seems that the oil price projection is no longer at US$ 90/barrel. Goldman Sachs revised its price forecast to $85/barrel in 2023.
“It will take time for the oil market to stabilize again,” the research added.
In the near future, Goldman Sachs assesses the challenge for oil prices is to penetrate the level of US$ 80/barrel. The spread of the omicron variant of the corona virus adds to the complications in the field.
“So in the near future, oil prices may remain at low levels. The news that is worth waiting for is the development of an agreement with Iran, which can be reached, which can increase supply to a tight market,” Goldman Sachs research continued.
CNBC INDONESIA RESEARCH TEAM
(aji / aji)