April 1, 2023

Goldman Sachs expects oil prices to gradually rise to $100 a barrel by December and that levels are expected to continue into 2024, subject to a one million bpd increase in OPEC production in the second half.

He also expected Brent to average $90 a barrel in the second quarter of 2023, compared to a previous estimate of $105.

Oil prices tumbled on Monday as a stronger dollar dampened purchases, although losses were limited by supply concerns after Russia cut off exports to Poland via a major pipeline.

Installations 300-300

Brent futures fell 34 cents, or 0.4 percent, to $82.82 a barrel at 1430 GMT, while US West Texas Intermediate futures traded at $75.94, down up 38 cents, or 0.5 percent, 90 cents on Friday.

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