WTI seen higher at $ 64 in Q3 – Goldman Sachs

Following their take on Brent oil, Goldman Sachs analysts are out with their outlook on the US oil, WTI, with the key highlights found below.

WTI price forecast raised to $ 64 in Q3.

WTI seen in the $55-$69 range over next 12 months

WT to average at $60 in 2019

The upward revision to the price forecasts is on the back of Iran, Venezuela, the biggest upside risks to oil market outlook while Saudi Arabia is unlikely to proactively increase output to make up for supply disruptions.