Goldman Sachs: Weak demand and Middle East supply losses pose two-way risks to oil prices

According to analysts from Goldman Sachs, weak demand and supply losses caused by the Iran War in the Middle East pose a two-way risk to oil prices. The report points out that the April oil sales data in Western Europe indicates a downward risk of approximately 2 million barrels per day in the April demand forecast, which adds approximately $10 per barrel to the Brent crude oil price forecast of $90 per barrel in the fourth quarter. Analysts believe that supply losses in the Middle East may persist for a longer period of time, posing an upward risk, but weak demand also brings downward risks, and actual terminal demand may decline more than expected due to price increases.