Goldman Sachs like oil prices higher on both supply and demand factors

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Goldman Sachs see even higher to come for crude this year on strong demand and a moderation in non-OPEC supply growth:

Analysts at GS point specifically to:

  • Chinese demand growing (ps. this was evident in the recent data, Apparent Oil Demand +6.1% y/y)
  • tightening supply of oil from the US
  • summer inventory draws

This article was written by Eamonn Sheridan at www.forexlive.com.

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