Goldman Sachs projects oil price correction of up to 20 percent

A correction in the oil price of up to 20 percent is possibly already emerging, notes Goldman Sachs, according to CNBC. The amount of oil in storage remains high, notes the investment bank.

Photo: Nick Oxford/Reuters/Ritzau Scanpix

The oil price could face a new downturn after the most recent price hikes, says Goldman Sachs, according to media CNBC.

The investment bank projects a price correction of up to 20 percent, with a price of North Sea Brent oil normally costing around USD 40.

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