Energy Stocks Start To Breakout As Goldman Calls For $80 Brent By Q3

Apr. 30, 2021 5:42 PM ETBTEGF71 Comments54 Likes

Summary

  • Goldman calls for $80 Brent by Q3 as global oil demand is set to recover 5.2 mb/d over the next 6 months.
  • Prior to this year, sell-side firms were very reluctant in making aggressive oil price targets, so kudos to Goldman.
  • Energy stocks are also starting to break out. Investors should start allocating to energy stocks if they have not already.
  • If oil does reach this level, energy stocks are very mispriced.