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G Sachs Projects CN to Expedite Crude Oil Reserves in 2025/26, But Brent Oil TP Only ~US$53-57 in 2026
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Amid sinking oil prices and crude oil demand fueled by concerns over energy security, China is expected to continue accelerating its crude oil reserves this year and next, Goldman Sachs said. Over the next five quarters, China's oil inventory is forecast to increase by 500,000 bpd. Although China's crude oil purchases are strong, Goldman Sachs still projected Brent crude oil prices to fall to around US$53-57 per barrel next year. In electronic trading, Brent crude oil for November delivery last inched down 0.75% to US$65.87 per barrel, and New York crude oil for October delivery last dropped 0.82% to US$61.85 per barrel. AASTOCKS Financial News Website: www.aastocks.com |
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