Goldman Sachs predicts fall in oil prices to $45 a barrel

Goldman Sachs predicts fall in oil prices to $45 a barrel
# 13 December 2008 11:36 (UTC +04:00)
Baku. Vahad Rzayev-APA-Economics. Goldman Sachs has slashed its forecast for crude oil prices to just $45 a barrel next year as demand wanes - in a sharp U-turn from its prediction of a spike to $200 made earlier this year.
Murti’s team predicted a return to positive demand growth and shrinking non-Opec supply would lift prices to $70 a barrel by 2010 and to $105 by 2012.
In a separate report, Goldman’s commodities analysts predicted world oil demand will fall by 1.7m barrels a day, helping drive oil prices down to $30 a barrel in the first quarter of next year but - in line with the energy equity team’s forcecast - average out at $45 over the year as a whole.
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