Goldman Sachs raised its oil price forecasts for 2020, citing tighter-than-expec...
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid - RC1BDE36CF80
“We are increasing our forecast for backwardation in 2020 although our long-term marginal cost forecast remains unchanged,” Goldman analysts wrote in a note dated Dec. 6. Brent futures LCOc1 were down 0.3% at $64.19 per barrel, as of 0632 GMT, having risen sharply last week after OPEC and its allies agreed to deepen output cuts.
The decision, “crystallizes an important shift in OPEC+ behavior to managing short-term physical surpluses and deficits rather than trying to correct perceived long-term imbalances through open-ended commitments,” the Wall Street bank said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street bets international stocks will top US equities in 2020 after a decade-long slumpThe U.S. has been the place to invest when it comes to stocks over the past 10 years. That dominance could shift in 2020.
Read more »
The 5 big 2020 stories of the week, rankedWith 57 days until the Iowa caucuses, the 2020 election will be here before you know it. Every Sunday, I outline the 5 BIG storylines you need to know to understand the upcoming week on the campaign trail. And they're ranked -- so the No. 1 story is the most important of the coming week.
Read more »
Make 3 Goals For 2020 — No More, No LessFor 2020, set 3 goals and to achieve them, try to limit your daily objectives to 1-5 items as well
Read more »
Lil Nas X, Normani, Maluma And The 30 Under 30 Music Class Of 2020This year’s ForbesUnder30 Music list was selected by a panel of alumni judges including rapper 21 Savage, electronic duo the Chainsmokers, manager Adriana Arce and songwriter Michaela “Mickey” Shiloh
Read more »
How to watch the Golden Globes 2020 nominations announcementThe announcement ceremony can be seen via live stream on the Golden Globes' website and Facebook page.
Read more »