How does Goldman Sachs' oil price forecast compare to Bank of America's?
Where Is Oil Headed in 2023?
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Hard
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The video discusses the potential impact of China's reopening on the oil market, predicting increased demand for crude oil. Major banks like Bank of America and Goldman Sachs provide forecasts for oil prices, expecting them to remain high due to factors such as the EU's embargo on Russian crude, China's economic reopening, and CapEx shortages. The US dollar's influence on the commodities market in 2022 is highlighted, with CapEx being a key focus for 2023.
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OPEN ENDED QUESTION
3 mins • 1 pt
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What is the significance of CapEx for the commodities market in 2023?
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