Oil drilling rigs
A colder winter and a surge in global gas prices could push oil prices higher to $85 per barrel (bbl) in Q4 2021, Reuters reported, citing a Goldman Sachs note.
According to the US-based bank, higher global gas prices and a colder winter in Europe and Asia could boost demand for oil, driving a $5 per barrel upside risk to its fourth quarter 2021 Brent price forecast of $80 a barrel.
A colder winter could lead to a 900,000 barrels per day (bpd) increase in oil demand, the bank said.
Bank of America Global Research recently said it could bring forward its $100/bbl oil price target to the next six months from mid-2022 if the winter is colder than usual.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}