In this article GSBDGS Follow your favorite stocks CREATE FREE ACCOUNTOil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., at night in Tuapse, Russia.
Andrey Rudakov | Bloomberg | Getty ImagesGoldman Sachs expects record demand in oil markets to drive crude prices higher in the near term.
He added that the bank forecasts Brent crude to rise from just above $80 per barrel now to $86 per barrel by year-end.
Global benchmark Brent futures traded 0.39% lower at $80.75 a barrel, while U.S. West Texas Intermediate futures stood 0.42% at $76.75 per barrel.
That metric, which tallies the number of active oil rigs, is used as an indicator of drilling activity and future output.
Persons:
Andrey Rudakov, Goldman Sachs, Daan Struyven, CNBC's, Struyven
Organizations:
Rosneft Oil, Bloomberg, Getty, Brent, U.S, West Texas
Locations:
Tuapse, Russia