Goldman Sachs Sees Oil Prices Rising On Record Demand

 

CNBC: Goldman Sachs expects ‘all time high’ oil demand to spur large deficits, boosting prices 

* Goldman Sachs forecasts “all-time high” demand in oil markets leading to a “sizeable deficit.” 

* The investment bank projects Brent crude to rise from just above $80 per barrel now to $86 per barrel by year end. 

Goldman Sachs expects record demand in oil markets to drive crude prices higher in the near term. 

“We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an all-time high,” Goldman’s head of oil research Daan Struyven told CNBC’s “Squawk Box Asia” on Monday. 

He added that the bank forecasts Brent crude to rise from just above $80 per barrel now to $86 per barrel by year-end.  

Read more .... 

Update: Goldman Sachs Sees Oil Prices Rising On Record Demand (Global Times) 

WNU Editor: China and India are the driving forces for increased oil demand and cost.