| Goldman Sachs has cut its long-term crude oil price forecasts and recommended investors sell shares in two major oil companies, saying that improved U.S. shale efficiency and higher production from OPEC will more than cover future demand.
The U.S. investment bank's equities team, in a note published on Saturday, raised its projection for the average Brent crude oil price this year to $58 a barrel from $52 and lifted its outlook for U.S. light crude futures to $52 a barrel from $48. But Goldman, closely followed investors including large pensions and hedge funds, said it expects Brent to fall over time, reaching $55 a barrel by 2020...............................................Full Article: Source
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