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Goldman cuts oil forecast
- Middle East: Wednesday, September 17 - 2008 at 12:09
Goldman Sachs has cut its forecast for crude oil prices in New York, saying the market has 'overshot to the downside' because of concern the global credit crisis may lead to weaker demand, reported Bloomberg. The firm cut its three-month benchmark West Texas Intermediate crude oil estimate to $115 a barrel from $149, and its six-month target to $125 from $142. Current prices present 'compelling buying opportunities,' Goldman said.
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Jeff Florian, Senior ReporterWednesday, September 17 - 2008 at 12:09 UAE local time (GMT+4)
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