Goldman Sachs sees $30 as the sweet spot for crude oil
After extreme price plunges amid the Covid-19 pandemic, oil rallied in the past week, recovering to $30 a barrel as the market rebalances. However, analysts warn that prices need to stay low for the next three months to avoid another rout.
The Covid-19 pandemic and resultant economic shutdowns to curb the spread of the virus hit the oil price particularly hard. Brent crude oil crashed below $20 a barrel and US oil prices last month turned negative on storage concern.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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