Oil: Outlook remains constructive for 2021 – Goldman Sachs

Analysts at Goldman Sachs maintain their Brent price-forecast for the year-end while projecting a constructive outlook for the next year, in their latest client note.  

Key quotes

“Oil inventories globally should drawdown in September.”

“Market deficit of 3m b/d likely in Q4.”

“Our constructive 2021 view remains intact.”

“Year-end Brent forecast remains at $49/bbl.”

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