Goldman Sachs Oil Forecast. Goldman Sachs issued a report this week forecasting that Brent crude oil prices will rise to about $130 a barrel in the next 12 months as demand from emerging markets such as China, Asia, and India will make up for weak growth in the developed world. The large emerging economies including Brazil, Russia, India, China and South Africa are forecast to grow 7.7 percent this year and 7.9 percent in 2012. Advanced economies are projected to expand only 1.7 percent this year and 2.1 percent next year.
While Brent crude is expected to increase 25% to $130 a barrel over the next year, West Texas Intermediate (WTI) light sweet crude oil is expected to increase 43.7% in price to $126.50 a barrel from the current $88. The forecast predicts that the WTI/Brent price disparity will narrow but not disappear over the next year.
Oil Price Forecast
Oil Price Forecast
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group