Goldman Bets on Rising Oil With Surging Supplies: Energy Markets
This article is for subscribers only.
The highest U.S. oil production in nine years is failing to dissuade Goldman Sachs Group Inc. from predicting that the price of the country’s most-traded crude will keep climbing.
The New York-based bank says West Texas Intermediate will gain 4.8 percent by August to trade within $5 a barrel of North Sea Brent, even as rising output swells the nation’s inventories. Citigroup Inc. takes the opposite view, forecasting that WTI’s discount to Brent may widen to $20 a barrel this year, from $15.70 today.