In an analytical memo published on Monday, analysts at the American investment bank Goldman Sachs warned that the recent tightening of sanctions imposed on Russian oil by the United States and the United Kingdom could lead to a larger increase in global oil prices. Goldman Sachs analysts noted that they expect these recent sanctions to push the price of Brent crude oil to trade above $85 a barrel, amid a decline in global oil supplies, especially after OPEC decided to postpone its planned production increase until next April. Goldman Sachs' warning came after oil prices had already risen last Friday following the announcement by both the US and the UK to tighten sanctions on Russian oil, where the United States decided to impose sanctions on 180 shipping vessels carrying Russian crude oil, as well as on dozens of traders and two major oil companies.
