Goldman Sachs claims that oil has entered a structural bull market, reaffirming their $90 oil prediction Oil inventories are seeing their largest daily drawdowns ever, and the growing global natural gas shortage will only increase demand for oil OPEC+ will ultimately be unwilling and unable to counter soaring oil prices Few could have predicted that after an already extensive bull run this year amid recovering demand, oil prices had much further to go. And yet, the world’s most traded commodity just got a major boost from the gas crunch in Europe and Asia, prompting forecasters to update their forecasts. One of the most bullish of all observers has been Goldman Sachs, whose commodity analysts have stuck to their price target of $80 for Brent crude regardless of the resurgence of Covid-19 in many key markets and other bearish events. Now, these analysts have raised their target to $90, arguing […]