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Commodities

Goldman Sachs Warns of Oil Price Decline Due to Weak Demand

Guavy AI Editorial Team
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Oil
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Goldman Sachs has flagged weak oil demand in China and Europe as a major risk to its fourth-quarter Brent crude forecast of $90 a barrel.

The brokerage cited data showing that April retail sales in these regions pose a downside risk, potentially reducing the price by about $10 per barrel.

Indicators suggest that road fuel consumption remains weak in China and several European countries, but demand appears resilient in the US and India.

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