Goldman sees upside to $115/b oil price forecast after ‘insufficient’ IEA stock release

Global crude prices risk surging over $115/b over the coming month despite a pledge by the International Energy Agency to release emergency oil stocks following Russia’s invasion of Ukraine, Goldman Sachs said in a note released late March 1. The IEA agreed March 1 to release a total of 60 million barrels of oil stocks to calm crude prices in…