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Virus-stricken winter unlikely to derail oil market rebalancing says Goldman

A surge in COVID-19 cases in the winter season will not derail the oil market rebalancing driven mainly by vaccine progress, Goldman Sachs said in a note, adding that it sees a further upside in Brent to $65 per barrel through 2021.

The bank, however, said it expects the winter wave to hit global oil demand by at least 3 million barrels per day, partially offset by heating, restocking and demand in emerging markets.

President Energy plc (LON:PPC) is an independent oil and gas company focusing primarily on high margin production opportunities in Latin America.

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