Goldman Sachs trims 2024 Brent Crude Oil forecast, expects range bound trading

<p>Goldman Sachs have trimmed their range forecast for Brent crude oil in 2024:</p><ul><li>to USD 70-90/barrel (this is lower by USD 10/bbl)</li><li>project higher supply from the US</li></ul><p>GS cite that they now expect only a small deficit, less elevated long-dated prices. Expect 2024 to bring mainly range bound pricing and lower volatility</p><ul><li>also looking for OPEC+ cuts to continue through to 2025, more cuts in Q2 2024</li></ul><p>36 months out Goldman Sachs forecast Brent crude at $72/bbbl (down $2)</p>

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