Oil prices may be soft in 2024 amid surprisingly ample supply
Jan 8, 2024 · While demand for crude oil held up over the past year, the growth in oil supply has been surprisingly robust. The result has been softer oil prices, and that phenomena may continue in 2024, says Sarah Kiernan, head of Americas Commodities Sales in Global Banking & Markets at Goldman Sachs.
Peak oil demand is still a decade away - Goldman Sachs
Jun 17, 2024 · While some prominent forecasters have predicted oil demand will peak by 2030, our researchers expect oil usage will increase through 2034. That’s in part because of demand for oil from emerging markets in Asia and demand for petrochemicals, according to a report by Goldman Sachs Research.
Oil prices may climb higher amid risk of Middle East ... - Goldman Sachs
Oct 11, 2024 · Oil prices jumped as tensions in the Middle East intensified. The big question for investors is whether further escalation in the conflict in the Middle East is going to lead to a reduction in supply from Iran, says Struyven, co-head of …
Goldman Sachs Sees Limited Upside for Oil Prices in 2025
Oct 23, 2024 · Goldman Sachs forecasts average oil prices of $76 per barrel in 2025 due to ample supply and spare capacity, with upside risks limited and downside risks outweighing them.
Regional Advisor to Goldman Sachs, and Jan Hatzius, Goldman Sachs Chief Economist Head of Global Investment Research, spot oil prices may experience sharp but transitory prices increases (see call replay here). Potential oil supply disruptions include tighter oil sanctions on Iran, Iran retaliating by attempting to block the Strait of Hormuz
Goldman Sachs cuts oil price forecast by almost 10%
Jun 12, 2023 · Goldman Sachs has slashed its forecast for oil prices by nearly 10%, citing weak demand in China and a glut of supply from sanctioned countries, including Russia.
Oil could hit $107 due to Saudi Arabia’s and Russia’s supply cuts ...
Sep 6, 2023 · Oil prices could climb well into triple-digit territory by next year if Russia and Saudi Arabia don’t unwind their aggressive supply cuts, Goldman Sachs warned its clients.
Goldman sees oil prices holding around $76/bbl in 2025 on …
Oct 22, 2024 · Goldman Sachs expects oil prices to average $76 a barrel in 2025 based on a moderate crude surplus and spare capacity among major producers, with concerns easing over a potential disruption...
Goldman Sachs lowers its 2024 oil price forecast by 12% due to …
Dec 18, 2023 · Goldman Sachs has cut its forecast for the average oil price next year by 12%, citing abundant production in the United States. The Wall Street bank wrote in a note Sunday that it now expects...
Goldman Sachs predicts $140 oil as gas prices spike near $5 a gallon - CNN
Jun 7, 2022 · Goldman Sachs is now calling for Brent oil to average $135 a barrel during the second half of this year and first half of next. That’s up $10 from the bank’s previous forecast.