Crude oil storage tanks at the Juaymah tank farm at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia in 2018.

Simon Dawson | Bloomberg | Getty Images

Goldman Sachs cut its oil price forecast for the fourth quarter of 2022 by $10 to $100 a barrel, citing rising Covid concerns in China and a lack of clarity about the Group of Seven’s plan to cap Russian oil prices.

“The market is rightly concerned about forward fundamentals due to significant Covid cases in…

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