Goldman Sachs Warns Oil to $95 by End of Year

by: Paul Kedrosky

This is the highest estimate I have seen from a major bank for end-of-year crude oil prices:

The key Middle Eastern members of oil cartel OPEC are under pressure for an increase in production after a warning from Goldman Sachs that prices could hit a peak of $95 a barrel by the end of the year.

Goldman Sachs said in a research note oil prices could reach $90 a barrel this autumn and $95 a barrel by the end of the year if the Organization of the Petroleum Exporting Countries does not ease production cuts that have helped tighten global markets.

[via RTE Business]

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