Goldman Remains Cautious on Oil Prices as Higher Iranian Supply Prospects Weigh

Goldman Sachs said on Sunday it is retaining a cautious outlook on oil prices, as pressure from likely elevated Iranian supply and higher OECD commercial inventories will offset support from stronger global GDP growth. “We are maintaining our Brent/WTI oil price forecasts of $60/56 ($4 below the forwards) for the remainder of 2025 and $56/52 …

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EU Likely to Propose to G7 to Lower Price Cap on Russian Oil to $50 Per Barrel

The European Union will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said. “This is something which we flagged from the Commission’s side in the context of the 18th …

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Lifting US Sanctions on Iran Could Crush China’s ‘Teapot’ Oil Refineries

By Ron Bousso Summary Chinese independent refineries accounted for 77% of Iran 2024 exports Iranian imports are discounted, offering profits uplift Removal of sanctions will undermine teapots’ business model LONDON, May 19 – The possible lifting of U.S. sanctions on Iran’s oil exports could deal a fatal blow to independent Chinese refineries that have thrived by …

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