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Goldman Sachs: Oil demand fears are overstated and Brent will rise above $ 70 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Goldman Sachs: Oil demand fears are overstated and Brent will rise above $ 70

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Goldman Sachs: Oil demand fears are overstated and Brent will rise above $ 70 Empty Goldman Sachs: Oil demand fears are overstated and Brent will rise above $ 70

Post by claud39 on Sat Mar 16, 2019 8:41 am

https://www.alsumaria.tv/news/263652/%D8%AC%D9%88%D9%84%D8%AF%D9%85%D8%A7%D9%86-%D8%B3%D8%A7%D9%83%D8%B3-%D9%85%D8%AE%D8%A7%D9%88%D9%81-%D8%A7%D9%84%D8%B7%D9%84%D8%A8-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%85%D8%A8%D8%A7%D9%84%D8%BA-%D8%A8%D9%87%D8%A7-%D9%88%D8%A8%D8%B1%D9%86%D8%AA/ar


Goldman Sachs: Oil demand fears are overstated and Brent will rise above $ 70


Saturday 16 March



Goldman Sachs: Oil demand fears are overstated and Brent will rise above $ 70 NB-263652-636883247362686861




 Baghdad ,





 
said US investment bank Goldman Sachs said the high demand for oil coupled with a decline in production and reductions in supplies could help Brent crude prices climb above $ 70 a barrel in the short term. 

"Demand has started a strong start in 2019, while recent data indicates that concerns about demand for oil are expected to recede further," Reuters quoted the bank as saying.




Based on available data on demand, which shows an increase in consumption of 1.55 million barrels per day in January from a year ago, the US bank estimates that global demand rose by about 2 million barrels a day during the month. This growth was evident in both emerging and advanced markets. 

"Supply losses in 2019 are significant as producers in the Organization of the Petroleum Exporting Countries (OPEC) have exceeded the level of promised cuts and rapid declines in Venezuela's production," Goldman Sachs said. 

"The political stalemate in Venezuela is increasingly creating a risk that a decline in production due to US oil sanctions will outweigh the recovery in Libya, which will push global production to below our expectations and cause more severe supply of heavy crude," he said.

Crude oil prices are heading towards their best quarterly performance since mid-2016, up 25 percent since the start of the first quarter.

claud39
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