Dubai
The price of oil will reach $65 per barrel next year as an energy market recovery accelerates, according to one of the world’s leading energy analysts. Goldman Sachs had a “growing conviction” in its increasingly bullish forecast for crude oil next year, on the rising likelihood of a vaccine against Covid-19 and the “discipline” among oil producers, including the OPEC+ alliance led by Saudi Arabia and Russia, said Damien Courvalin, head of energy research at the American banking giant. With world output under control following the historic cuts deal announced in April, and US shale production under severe pressure, crude prices have bounced back from the wild gyrations of “Black Monday” when US oil fell below zero.—Agencies
