Oil prices head lower amid Goldman outlook

Oil prices head lower amid Goldman outlook

Oil prices head lower amid Goldman outlook Goldman Sachs forecasts that the US crude oil price for 2015 will average $48.10, revised down from its previous estimate of $52. The outlook for 2016 is more drastic, down from $57 to $45. The bank’s economists believe that continued high output and weakness in China’s economy will exacerbate the global supply glut, forcing prices lower. Oil prices fell 2 per cent overnight.