| Goldman Sachs has cut its price forecast for Brent and West Texas Intermediate by US$15 a barrel for the first quarter of 2015 because rising production in non-OPEC countries outside North America is expected to outstrip demand.
The U.S. investment bank slashed its forecast for WTI to US$75 a barrel from US$90 and for Brent to US$85 a barrel from US$100, it said in a research note on Sunday. The bank's analysts expect WTI to fall to as low as US$70 a barrel and Brent to US$80 a barrel during the second quarter of next year, when it expects oversupply to be the most pronounced...............................................Full Article: Source |