28.10.2014 - Goldman slashes 2015 oil price forecast as glut grows
Goldman Sachs has slashed its 2015 oil price forecasts, making it the most bearish among major financial institutions, adding pressure on Monday to crude futures that have already tanked near 25 per cent over the past five months. The US investment bank said rising production will outstrip demand, joining other oil analysts who predict consumption will be dented by slower global economic growth and lead to a supply glut. Goldman analysts said in a report released late on Sunday that they expect US benchmark West Texas Intermediate (WTI)crude to fall to US$75 a barrel and Brent to US$85 a barrel in the first quarter of 2015, both down US$15 from their previous forecast...............................................Full Article: Source
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