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Sharp oil price pullback unlikely as demand improves - Goldman

FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in
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(Reuters) - The risk of a sharp pull-back in oil prices has decreased as the rebalancing of the crude market gathers pace, Goldman Sachs said, aided by a gradual lifting of coronavirus lockdowns and a faster-than-expected fall in output.The Wall-Street bank raised its May global demand estimate by 1.4 million barrels per day (bpd), but still sees a decline of 16 million bpd from pre-COVID..
Date Published: May 14, 2020
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