Goldman Sachs: Raises Q2 2017 WTI & Brent price forecasts

Analysts at Goldman Sachs published their outlook on Oil prices for this month and year ahead in its latest note.

Key Quotes:

“We expect that the potential ramp up in Libya and a stronger dollar will likely further limit the near-term upside to prices and our December WTI price forecast remains at $ 50/bbl”

“We are raising our Q217 WTI price forecast to $ 57.5/bbl ($ 55/bbl), $ 59/bbl Brent beyond H117”

“We expect that the global market will remain balanced, with Brent prices between $ 55/bbl and $ 60/bbl”

“We are smoothing out our medium-term price forecast, with our H217 and 2018 Brent forecast now $ 58/bbl (prev $ 63/bbl) & $ 55/bbl for WTI (prev $ 51.5/bbl)”