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Oil prices need to stay lower for longer to find equilibrium: Goldman

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The global oil surplus has been estimated to be at two million barrels a day, as the US pumps more oil than it has in 30 years.

Singapore

OIL prices have to stay lower for longer in order for the market to find an equilibrium. Goldman Sachs analysts said this on Sunday, as they cut their oil price forecast following a similar move by Societe Generale (SocGen) on Friday.

"The search for a new equilibrium

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