The short-term outlook for oil is moderately optimistic, as the market continues to decline significantly, which is aided by the reduction in the production of the Organization of Petroleum Exporting Countries (OPEC) and Russia, Goldman Sachs said. In the near future, the potential growth on the cost of Brent crude oil is quite high compared with the current level of $ 67.50 per barrel. The global benchmark can be easily traded between $ 70 and $ 75 per barrel, according to a bank analysis report.
OPEC and its partners, including Russia, agreed in December to cut oil production under a global supply agreement to prevent a glut in the market this year. Cuts under OPEC, as well as US sanctions on oil exports from Iran and Venezuela, led to an increase in oil prices last week to the highs of 2019.
However, in the second half of the year, according to Goldman Sachs, optimism will diminish. Experts has predicted an increased pressure from US shale producers and a possible easing of the terms of the OPEC deal to restrict production.
"Saudi Arabia has expressed the view that the markets will be balanced until June. This suggests that a further reduction in supply in the second half of 2019 may not be required. As for long-term forecasts, oil prices are likely to remain under pressure below $ 60 per barrel for Brent and $ 55 per barrel for WTI, " according to Goldman analysts.
週二全球股市下跌,追蹤世界股票的 MSCI 指數出現下跌。主要原因是投資者對持續的美國貿易談判感到失望,並期待美聯儲的信號。
週一,標準普爾500指數滑落,結束了其20年來最為顯著的一輪漲幅。投資者在本週晚些時候關鍵的聯邦儲備會議前採取觀望態度。
美國股市指數,包括S&P 500和Nasdaq,均以穩健姿態結束了一週的交易,並處於正領域。這主要得益於中美貿易談判的鼓舞人心進展以及就業數據的韌性。
儘管經濟不確定性揮之不去,美國股市指數持續上升。投資者的樂觀情緒來自於美中貿易談判取得進展的預期。
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