Goldman predicts improvement in the oil market in 2021

The financial group Goldman Sachs estimates an improvement in the oil market for 2021, as the crisis caused by the coronavirus weakens and a possible vaccine is approaching. The bank points to an increase in Brent prices to $ 65 a barrel in the third quarter of 2021, at an average of $ 59.40 for the year.

Since April, when they have fallen to their lowest level in 20 years, Brent prices have been recovering. This was made possible by cuts in production by the Organization of Petroleum Exporting Countries and their allies (OPEC +) and by the easing of blocking measures carried out by economies around the world.

"There is an increasing likelihood that vaccines will become widely available starting next spring (in the northern hemisphere), helping to support global growth and demand for oil, especially from jet fuel," said the bank.

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