GS lowered its oil price forecast

Goldman Sachs, the state-owned investment bank, has lowered its oil price forecast, reckoning its expectations of increased US yields that would offset the impact of OPEC's production cuts.
The bank predicts an average oil price of $55.39 per barrel, this year, against previous expectations of $56.76 per barrel.
GS also announced this year's average crude oil crude price at $52.92 a barrel, against a background of their previous forecast of $54.80 per barrel.
They believe that they are in a long-term downward trend for oil, with evidence of an increase in oil supply.
Oil fell slightly on Tuesday, with the Brent trading at levels of $51.80 when the news came out, and US crude oil at $49.50 for a barrel.
According to bank's analysts, industry focuses from long-term cycles, to short-term ones.