Cyclical Commodity Have Limited Recovery Potential Amid Trade War, Recession Fears, Commerzbank Says
"The 'Black Waterfall' has just begun? The oil market's volume has broken the pandemic record, and Goldman Sachs has shockingly revealed the '40 dollar doomsday scenario.'
① After experiencing a series of epic "volume" crashes in international oil prices for several consecutive days, Goldman Sachs lowered its oil price forecast for the second time in just one week on Monday; ② The latest statement from the Institutions indicated that with the intensification of the trade war and an increase in supply, under "extreme" circumstances, the price of Brent Crude Oil Product could fall below $40 per barrel.
After economists downgraded the Global GDP outlook, Goldman Sachs lowered its oil price expectations again.
Goldman Sachs recently released a Research Report, based on the recent downward revision of the global GDP expectations by its economists, which will further lower the oil price forecast.
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