Goldman Sachs expected that global oil demand will witness a strong recovery in the coming period; Which in turn will affect the prices of black gold, especially Brent crude.
The bank said in a report, yesterday, Monday, that the recovery in demand for crude may push the prices of the world benchmark, Brent crude, to exceed its expectations for the end of the year of $90 a barrel.
He also expected that oil demand would soon reach pre-Coronavirus levels at about 100 million barrels per day, with consumption recovering in Asia after the wave of the mutated strain Delta.< /p>
Goldman Sachs also predicted that the switch from gas to oil could add at least one million barrels per day to crude demand.
Oil prices yesterday recorded their highest levels in several years, before stabilizing, supported by tight global supply and high demand for fuel in the United States and other countries.
Brent crude ended yesterday's session up 46 cents at the settlement to reach $85.99 a barrel, while the US standard crude contracts settled at the level of $83.76 a barrel.
