Goldman Sachs has raised its Brent oil forecast to US$100

<p>Goldman Sachs has hiked its 12 month forecast for Brent crude from its previous $93 to $100.</p><ul><li>says that "most of the rally behind us"</li><li>"We believe that OPEC will be able to sustain Brent in an $80-to-$105 range in 2024 by leveraging robust Asia-centric global demand growth"</li><li>"OPEC is unlikely to push prices to extreme levels, which would destroy its long-term residual demand" </li><li>deficit estimated at 2 mn barrels a day in Q3 2023 and of 1.1 mn barrels a day in Q4 2023</li><li>global consumption at a record level</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.