OREANDA-NEWS. Goldman Sachs experts predict that the average spot price of a barrel of Brent oil in 2020 will be $ 63. This was reported on Sunday by Bloomberg, at the disposal of its journalists received a report from a financial institution.

It follows that Goldman Sachs adjusted earlier estimates in light of the OPEC+ decision to change the terms of the deal to reduce production for the first quarter. Starting January 1, they should remove 1.7 million barrels per day from the market. The purpose of the changes is to prevent imbalance in the market in conditions of low demand in the winter.

Earlier, bank analysts believed that the average spot price of a barrel of Brent oil would be $ 60 in 2020. The long-term forecast remained unchanged at $ 55 per barrel. According to new estimates, the spot price of a barrel of WTI (Texas Light Oil) in 2020 will be $ 58.50. Goldman Sachs believes that the terms of the deal to reduce production may not be fully implemented by Russia, Iraq and Nigeria.