Goldman Sachs CEO David Solomon has warned that there is the potential for higher inflation and slower growth globally.
According to Arab Net, Solomon added at the Future Investment Initiative conference in the Saudi capital, Riyadh, that there will be consequences for adopting an accommodative monetary policy for a long time.
Solomon's comments came at a time when his bank issued a report today, Tuesday, in which it said that a strong recovery in global demand for oil could push the prices of the global benchmark Brent crude to exceed its expectations. by the end of the year of $90 a barrel.
The US investment bank added that it expects oil demand to soon reach pre-Covid-19 levels, at about 100 million barrels per day, with consumption recovering in Asia after a mutated wave delta.
The bank also predicted that the switch from gas to oil could add at least one million barrels per day to crude demand.
Goldman Sachs does not expect any slowdown in oil prices in the near term, as it indicated that demand will rise again in the near term, stronger than expected.
This comes as more countries reopen and restrictions are eased amid the success of coronavirus vaccination campaigns.
