Post by
Tradinghands on Feb 26, 2024 8:39pm
Is Goldman Sachs sucking or blowing?
In Sept 2023 they called for $100 crude well that failed then Dec they trimmed Brent by $10 inbetween $70-$90 now they are calling for Brent at $87,
So far oil hovers around $76 with near-term bearish trend and we have oversupply, weak prices and moderate demand with US production expected to continue to grow and increase output from other countries with Saudi recent price cuts and Russia still flooding the market to fund their war I would say that this year will be challenging and uncertain for oil to climb and stay high like Goldman is saying, plus global countries that are in recession. Theres money to be made in oil stocks but be selective and aware of your position. Oil would rally if Ukraine blows up every Russia oil pipeline and a war breaks out in Iran but oil rising only on global demand might be soft.
Comment by
Marty47 on Feb 26, 2024 9:01pm
As I said before Goldman change their oil projection every other day , when oil down , oups now they predict oil lower , oups oil back up now they predict oil higher ..... do they think they are smart lol , mine always the same oil will hit 80 by March 1 st ......soon