Brent Oil Is Likely to Stabilize in $70-$80 per Barrel Range into Year-End

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The analysts at Goldman Sachs expect the OPEC producers and Russia to compensate for the drop in Iranian oil supplies and hence see Brent oil stabilizing in the range of $70 to $80 per barrel into year-end.

The investment bank is not pessimistic on oil prices and is maintaining its `overweight` outlook on black gold and commodities. according to oilprice.com.