Goldman Sachs downgrades Oil-price forecast

Goldman Sachs analysts, in their latest research note, downgraded the estimations for oil prices for this year, citing a potential rise in shale gas production, new projects and OPEC restrictions, CNBC reports.

Key Points:

An average of $55.39 per barrel seen for Brent from its previous estimate of $56.76 a barrel.

It also lowered its expectations for WTI to $52.92 per barrel from $54.80.

"We believe we are in a lower for longer environment until there is greater evidence shale deliverability is surprising to the downside or OPEC runs out of spare capacity."