Goldman Sachs said that, in light of estimates of low oil stocks, it expects to strengthen the situation in which the spot price of oil rises compared to the price in futures and a modest increase in prices , With his current expectations for Brent in the second quarter of 2019 at $ 72.5 a barrel from $ 65 previously.

The bank also expected oil prices to decline gradually from this summer due to an increase in shale oil production and OPEC production.

While the bank maintained its forecast for oil prices at $ 60 a barrel in the coming year, adding that the updated forecasts of supply and demand indicate that the global oil market is still experiencing a deficit with a rate of 0.5 million barrels per day in the second quarter.

The bank said that its forecast for global demand growth in 2019 remains higher than the average market expectation at 1.4 million barrels per day.

Oil prices reached today to the highest levels since last November, in light of the decline in international supplies due to production cuts led by OPEC and US sanctions on Iran and Venezuela, in addition to The conflict has intensified in Libya.

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