Goldman Sachs predicts Brent crude prices to rise to $86 a barrel, driven by Summer Deman | national news

Goldman Sachs analysts forecast the price of Brent crude oil to rise to $86 a barrel this quarter, an increase of nearly 7% from current levels. Healthy consumer demand and solid summer demand for transportation and cooling will push the oil market into a sizeable deficit in the third quarter. Recent falls in oil prices have been exacerbated by OPEC+ plans to reverse production cuts starting in October. Brent crude is trading at just over $80 a barrel, while WTI is just over $76 a barrel.