Influential oil analysts at investment bank Goldman Sachs sees lower oil prices for 2013 and 2014. In its Thursday note to investors, the investment bank warned that the reduction could make it harder for oil companies to hit their growth targets.
Goldman now forecasts that the average price of international crude benchmark Brent will be $110 a barrel in 2013 and $105 a barrel in 2014, compared with a forecast of $120 a barrel for this year.
Goldman’s previous forecasts for 2013 and 2014 were $130 a barrel and $85 a barrel respectively.
