Goldman Sachs researchers recently said that the main factor driving oil prices in the past year was Chinese market demand, rather than the Russia-Ukraine conflict. China's manufacturing activities are now on the rise. Therefore, Goldman Sachs expects that the global crude oil price benchmark--Brent crude oil prices may surge again in the next 12 to 18 months, which may mean that the crude oil prices in the fourth quarter of 2023 will be $100 per barrel or more.
Goldman Sachs: Crude Oil Prices in Q4 2023 to be $100 per Barrel
Goldman Sachs researchers recently said that the main factor driving oil prices in the past year was Chinese market demand.
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