LONDON, June 4 (Reuters) - Goldman Sachs raised its end of 2009 oil price forecast to $85 a barrel from $65 and introduced a new end of 2010 forecast of $95, the U.S. bank said in a research note.
Goldman said the recent rise in U.S. crude prices was likely to be the first stage in the oil price rally that it expects will accompany a recovery in economic activity.
(Reporting by Joe Brock; Editing by James Jukwey) Keywords: GOLDMAN OIL FORECAST (joe.brock@thomsonreuters.com; +44(0)207 542 9162) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Goldman said the recent rise in U.S. crude prices was likely to be the first stage in the oil price rally that it expects will accompany a recovery in economic activity.
(Reporting by Joe Brock; Editing by James Jukwey) Keywords: GOLDMAN OIL FORECAST (joe.brock@thomsonreuters.com; +44(0)207 542 9162) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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