Goldman Sachs Hikes Oil Price Forecast To $90

Tightening oil markets with robust demand recovery and disruptions to supply from Hurricane Ida prompted Goldman Sachs to hike its end-2021 oil price forecast to $90 a barrel Brent from $80 per barrel expected earlier. Goldman Sachs has been saying for months that it sees Brent Crude prices at $80 by the end of this year due to demand recovery and still weaker supply response from non-OPEC+ oil producers. Last week, the investment bank said that a colder winter and soaring natural gas prices globally could lead to higher-than-expected oil prices…