Goldman Sachs cuts 4Q oil forecast by $10/bbl on China ‘speed bump’

November 21, 2022

“We still believe Russian production will decline about 0.6 million barrels per day from here, with risks of a deeper, more abrupt disruption, still present,” the bank said, warning that inventories could deplete once again in the first half of 2023 if OPEC and its allies maintain current output quotas.

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