Goldman Sachs Lowers Crude Oil Price Forecasts for 2008, 2009
By Nesa Subrahmaniyan
Oct. 13 (Bloomberg) -- Goldman Sachs Group Inc., the biggest independent
Wall Street firm, lowered its price forecasts for crude oil after
underestimating the depth of the global financial crisis.
Goldman reduced its estimate for the U.S. benchmark West Texas Intermediate
crude for the fourth quarter to $75 a barrel from $110, and cut its year-end
target to $70 a barrel from $115, Goldman's research analysts led