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Goldman Sachs slashes 2019 oil price forecast amid oversupply concerns

  • The investment bank now expects international benchmark Brent crude to average $62.50 a barrel this year, down from a previous forecast of $70.
  • Meanwhile, U.S. West Texas Intermediate (WTI) is expected to average $55.50 in 2019, down from a prior estimate of $64.50, the investment bank said in a research note published Sunday.

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