Goldman Sachs is now calling for oil prices to hit $100 a barrel later this year and continue rising in 2023, signaling higher prices at the pump are on the way
New York .
In a Monday evening report to clients, the Wall Street bank backed up its bullish call by citing"robust fundamentals" in the oil market, a"surprisingly large" supply deficit and diminishing firepower from OPEC and its allies. Goldman Sachs also pointed to diminished appetite to invest in oil due to the energy transition.By summer, the bank expects oil inventories in advanced economies will sink to their lowest level since 2000.
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