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home / news releases / XOP - Optimistic energy forecast supported by Goldman Sachs Bank of America and Barclays

XOP - Optimistic energy forecast supported by Goldman Sachs Bank of America and Barclays

SPDR S&P Oil & Gas Explor & Product
The energy sector has undoubtedly been the best performing sector of the year. With the combination of softer than expected OPEC+ production numbers and better-than-expected demand by global nations, it has pushed Brent crude oil through the $65/bbl water mark landing itself currently at $66.67/bbl.In an updated note by Goldman Sachs, they are now forecasting Brent crude oil prices to reach $70/bbl in the second quarter and $75/bbl by the third quarter of 2021.Barclays and Bank of America Global Research also raised their oil price forecasts for this year, reported earlier in the week by Reuters. For investors that share a similar sentiment and are interested in the energy markets here are a few exchange traded funds that are broken down by segment: Oil & Equipment Services: VanEck Vectors Oil Services ETF (OIH) is up 31.44% YTD.Oil & Gas Exploration & Production: SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

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Optimistic energy forecast supported by Goldman Sachs, Bank of America and Barclays
Stock Information
Company Name: SPDR S&P Oil & Gas Explor & Product
Stock Symbol: XOP
Market: NYSE
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