Goldman Sachs has revised down its forecast for the cost of oil by the end of this year and the beginning of next year. The new estimate is $5 lower than the previous one, at $100 a barrel. The average price of oil expected this year has also been lowered to $92, which is $6 less than earlier forecast. This is reported by RBC referring to Bloomberg.

Analysts believe that the recovery of the Chinese economy and the refusal of this country from harsh restrictive measures associated with the coronavirus should contribute to the rise in prices. According to them, demand in it will grow so much that by the summer will cause a deficit in the market and OPEC in this connection in the second half of the year may increase production to maintain a balance.

UBS is more optimistic, predicting an increase in Brent prices to $110 in the second half of the year. The bank believes that the prices may rise above $100 in the next few months.