Oil prices could rise to $65 a barrel by July 2021 amid a tight oil market and slow rebound in demand, Goldman Sachs said.
This could help push benchmark Brent crude to $65 a barrel by July, with less industry investment in supply skewing risks to the upside in 2022, the bank said.“We are moderating the demand rebound to account for a slower start of vaccination and a cautious pace of reopening, leading in particular to a slower recovery in jet demand,” Goldman said.