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Goldman's an Oil Bull in 2018 With 9% Total Returns Forecast

  • 2018 Brent view raised to $62 from $58; WTI to $57.50 from $55
  • Bank sees lower inventories in 2018 on OPEC commitment to cuts
Bloomberg business news

U.S. Oil Fills OPEC Supply Gaps at $60, Says Battle

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Goldman Sachs Group Inc. predicts oil prices will retain their strength, at least through 2018.

The bank raised its forecast for U.S. West Texas Intermediate as well as global benchmark Brent crude, saying OPEC and its allies showed a stronger commitment than expected to extending their output curbs at the producer group’s meeting last week. It expects positive total returns of 9 percent from crude over the next 12 months, according to a Dec. 4 report.