Earlier today we reported that the biggest oil bears among the big banks, Citi and Barclays, just capitulated on their downbeat forecasts - having seen crude steamroll any and every downside catalyst thrown at it and hitting 3 month highs - and were forced to hike their price targets. Of course, their views don't matter since anyone who had traded based on their reco to short oil is now looking for a new career; but with them out of the way, the big boys are now coming out with a new round of aggressive price hikes. To wit, late on Monday, Goldman published a report in which it again revised its price outlook (higher), saying that structural shortages remain unresolved to this day (despite a brief period in which the oil market enjoyed its first surplus since June 2020), and the bank is raising its peak summer oil price target from $125 to $140, while also hiking it oil prices targets for the rest of 2022 and 2022 by $10 higher than before.
https://www.zerohedge.com/markets/goldman-again-hikes-oil-price-target-now-sees-barrel-hitting-140-125
(all being down by design by brandon and the enviromarxists, America could supply itself and the entire world with ample oil if permitted to extract it, America's economy would be booming)