PETALING JAYA: Crude oil prices will rally sooner and higher than expected as demand recovery outpaces supply from Opec+, according to Goldman Sachs Group Inc.
The bank in its recent note raised its forecast on Brent crude oil by US$10 a barrel (RM40.43) to US$70 in the second quarter and US$75 in the following quarter as it expected that consumption will return to pre-Covid levels by July.
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