Quick piece from GS on oil markets, in brief (the post headline is the real in brief):
GS cite:
- escalating trade wars
- weaker activity indicators
Which have ‘fast-forwarded’ price falls the bank had projected for Q3 (65.50/bbl)
GS forecast:
- prices to likely remain around our 3Q forecasts and current levels
- still high price volatility
- global economic outlook in increasingly uncertain
On supply:
- rising US production
- large core-OPEC spare capacity