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* Goldman raises 2015 Brent forecast to $58 from $52
* Cuts 2020 Brent projection to $55 from $70
* Issues sell recommendations on BP and Statoil
* Downgrades oil sector outlook to 'cautious' from 'neutral' (Recasts, adds detail, comment)
May 18 (Reuters) - Goldman Sachs has cut its long-term crudeoil price forecasts and recommended investors sell shares in twomajor oil companies, saying that improved U.S. shale efficiencyand higher production from OPEC will more than cover futuredemand.
The U.S. investment bank's equities team, in a notepublished on Saturday, raised its projection for the averageBrent crude oil price this year to $58 a barrel from $52and lifted its outlook for U.S. light crude futures to$52 a barrel from $48.
But Goldman, closely followed investors including largepensions and hedge funds, said it expects Brent to fall overtime, reaching $55 a barrel by 2020.
Brent traded around $67 a barrel at 1100 GMT on Monday.
"We lower our Brent oil price assumption to $60-$65 for2016-2019, falling to $55 for 2020," Goldman said.
"We see global oil demand being met by U.S. shale, which iscontinuing to benefit from efficiency and productivityimprovements, and OPEC," the bank's note to clients added.
Goldman said that this "lower-for-longer oil price" would"put significant pressure" on integrated oil companies, forcinga rethink on dividends.
"As a result, we downgrade the sector outlook to 'cautious'from 'neutral'," it said.
The bank downgraded BP and Statoil to "sell"from "neutral", citing long-term dividend risk for BP andcashflow pressure on Statoil.
Last week the U.S. investment bank described a recent rallyin oil prices was "premature", adding that a weakening of pricesis required for a rebalancing of the market to resume.
Oil prices have recovered this year after sharp fallsthrough the second half of 2014.
Goldman Sachs said it assumed a $5 a barrel spread betweenBrent and U.S. crude, which is also known as West TexasIntermediate (WTI), through 2016-2020.
To view a list of the forecast changes, click (Reporting by Anupam Chatterjee and Vijaykumar Vedala inBengaluru and Christopher Johnson and Ron Bousso in London;Editing by David Goodman)
