COM - Brent crude to hit $65 by midyear on sharp demand rebound Goldman predicts

Goldman Sachs sees Brent crude oil rising to $65/bbl by the middle of this year, as much as six months earlier than it previously forecast, as increased demand from the rollout of COVID-19 vaccines and potential delays in restarting OPEC+ production keeps the oil market tight over the coming months."The likelihood of a fast tightening market from 2Q 2021 is rising as the rebound in demand stresses the ability of producers to restart production," says Goldman's global head of commodities research Jeffrey Currie.Goldman notes March production levels by OPEC+ will still be near recent lows even as global demand starts "rebounding sharply driven by warmer weather and rising vaccinations."Oil futures pull back slightly today as the U.S. dollar continues its bounce off a two-and-a-half-year low and renewed COVID-19 lockdowns underscore demand worries; Brent (CO1:COM) -0.9% to $55.46/bbl, WTI (CL1:COM) -0.4% to $52.03/bbl.ETFs: [[USO]], [[XLE]], [[UCO]], [[XOP]], [[VDE]], [[GUSH]], [[OIH]], [[BGR]],

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Brent crude to hit $65 by midyear on sharp demand rebound, Goldman predicts