Goldman Sachs expects the United States' decision to end waivers from sanct...
The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid
“While we acknowledge the near-term upside price risks, we reiterate our fundamentally derived Brent price trading range of $70-75 per barrel for the second quarter of 2019,” the bank wrote in a note on Monday. The bank still expects declining prices into 2020 due to better supplied markets next year and high uncertainties around whether the Organziation of the Petroleum Exporting Countries and fellow producers will continue to abide by their agreement to curb output to support prices after June.
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