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Golden Sach: The Demand for Oil Remains Strong Which will Boost the Oil Price Subtantially
Golden Sach: The Demand for Oil Remains Strong Which will Boost the Oil Price Subtantially

The source of article: Gold Network

On Monday, Golden Sachs, the foremost investment bank, wrote a passage to point out that the data from May and June showed the global oil demand remained strong because it was driven by economic growth powerfully.

In the report, Golden Sachs indicated that the data from The United States, Japan, India, China, Korea, Brazil, Mexico, Spain and France occupied 52% of the global requirements, with 80% of economic linkage. Data mirrored that global oil demand grew by 1 million 540 thousand barrels per day in June.
Goldman Sachs said that data from May to June showed oil prices increased by 1 million 810 thousand barrels per day in the second quarter, compared with Goldman's previous forecast of 1 million 550 thousand barrels per day, even as prices rose over the same period last year.

Golden Sachs predicted that the demand growth in the second half of this year is 1 million 600 thousand barrels / day; in 2017, Brent crude oil is at average 52 U. S. dollars per barrel; the global gross domestic product (GDP) grows 3.7%; the annual demand grows 1 million 630 thousand barrels / day.
The analyst in Golden Sachs pointed out that based on recent economic activity and oil demand exceeding Goldman's expectations, the risk of global demand growth is higher than expected.
Analysts said that, as we all know, for a long time, oversupply, coupled with weak demand, will lead to a sharp drop in oil prices. But that report is like a sound of "thunder", and the improvement will undoubtedly boost oil prices

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