Goldman Sachs Talk Oil

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Goldman Sachs sees a scenario where oil prices could go as low as 20 USD per barrel. They do not see such steep decline as their main scenario, however should the output remain at elevated levels we could see the oversupply issue only exacerbating. Nevertheless analysts see supply gut to remain on the market which combined with lagging demand growth does not give scope for strong appreciation. Goldman Sachs lowered their 2016 forecast for both WTI and Brent to 45 USD/bbl and 49,50 USD/bbl respectively from 57 and 62 seen earlier.