Goldman Sachs: soaring oil demand, oil prices will hit $80 this summer

China Petroleum and Chemical News Network reported on April 29, according to the oil price network, Goldman Sachs said on Wednesday that it expects global oil demand in the next six months to achieve the largest increase in history, and continues to maintain its optimistic expectations for this summer's oil prices.

Reuters quoted Goldman Sachs expecting that in its client report that increased demand for travel in Europe and accelerated vaccination will lead to "the largest increase in oil demand in the next six months, with a daily increase of 5.

Goldman Sachs expects oil prices to rise to US$80 per barrel this summer, and said, "We must not underestimate the upcoming changes in demand-this change is unmatched by supply", as FXStreet said.

Earlier this month, Goldman Sachs also released bullish news, saying that strong demand is expected, which will require OPEC+ to inject another 2 million barrels per day into the market in the third quarter.

In early April, the investment bank predicted that by the fall of 2021, excess oil inventories would return to normal.

At the end of April, Goldman Sachs continued to predict a sharp rebound in demand this year, despite the surge in new crown cases in India, which cast a shadow over the demand outlook to a certain extent.

Goldman Sachs Group said today: "The commodity market has observed a sharp increase in the number of new crown cases in India.

In early March, the bank predicted that the price of Brent crude oil would reach US$80 per barrel in the third quarter of this year, US$5 higher than the forecast released two weeks ago.

　　Even after oil prices suffered a sell-off in mid-March, Goldman Sachs still stated that this "breathing period" was a buying opportunity for oil, and continued to predict that Brent crude oil prices would hit $80 a barrel in the summer.

　　Qiu Yin compiled from the oil price network

　　The original text is as follows:

　　Goldman: Oil To Hit $80 On Largest Ever Demand Jump

　　Goldman Sachs expects global oil demand to realize the biggest jump ever over the next six months, the investment bank said on Wednesday, keeping its bullish forecasts for oil prices this summer.

　　Higher demand for travel and acceleration of vaccinations in Europe are set to result in “the biggest jump in oil demand ever, a 5.

　　Goldman Sachs continues to see oil rising to $80 per barrel this summer and says that “The magnitude of the coming change in the volume of demand - a change which supply cannot match - must not be understated,” as carried by FXStreet.

　　At the beginning of this month, Goldman also issued a bullish note, saying that it anticipated strong demand that would require OPEC+ putting another 2 million barrels per day (bpd) on the market in the third quarter, after the around 2 million bpd that the alliance and Saudi Arabia decided to return between May and July.

　　In early April, the investment bank expected excess oil inventories to normalize by the fall of 2021.

　　At the end of April, Goldman Sachs continues to forecast a large demand rebound this year, despite the soaring COVID cases in India, which have somewhat clouded the demand outlook.

　　“Commodity markets have looked through the sharp rise in Covid-19 cases in India,” Goldman Sachs said today.

　　At the beginning of March, the bank expected Brent Crude prices to hit $80 a barrel in the third quarter this year, up by $5 compared to the previous forecast issued two weeks earlier.

　　Even after the sell-off in oil in mid-March, Goldman said that the “big breather” was a buying opportunity for oil and continued to forecast Brent hitting $80 per barrel in the summer.