UPDATE 4-Goldman slashes 2015 oil price forecast as glut grows

lunes 27 de octubre de 2014 13:57 GYT
 

* Goldman says brings forward medium-term bearish outlook

* Sees Q1 2015 WTI crude at $75/bbl vs $90/bbl previously

* Sees Q1 2015 Brent at $85/bbl vs $100/bbl previously

* Non-OPEC production growth outside U.S. to top demand growth

* Says U.S. shale oil driving down the global cost curve (Adds background on Goldman's past oil price calls, link to factbox, updates futures price move)

By Aaron Sheldrick

Oct 27 (Reuters) - Goldman Sachs has slashed its 2015 oil price forecasts, making it the most bearish among major financial institutions, adding pressure on Monday to crude futures that have already tanked near 25 percent over the past five months.

The U.S. investment bank said rising production will outstrip demand, joining other oil analysts who predict consumption will be dented by slower global economic growth and lead to a supply glut.

Goldman analysts said in a report released late on Sunday that they expect U.S. benchmark West Texas Intermediate (WTI)crude to fall to $75 a barrel and Brent to $85 a barrel in the first quarter of 2015, both down $15 from their previous forecast.   Continuación...