Goldman increases 2019 oil price forecasts

Baku, April 10, AZERTAC Goldman Sachs has raised its forecast for crude oil prices this year. The investment bank said in a note dated April 8 that it now expects benchmark Brent crude prices to average $66 per barrel in 2019, compared with its previous estimate of $62.50. It sees U.S. crude oil averaging $59.50 per barrel, up from its last forecast of $55.50. The bank now sees Brent prices at $72.50 per barrel in the second quarter, compared with $65 previously. But it maintained its 2020 Brent oil price forecast at $60 per barrel.