Tag Archives: Goldman Sachs Bank

Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. The Gulf kingdom will likely direct the majority of its funds, around 73% of total investments, into non-oil sectors …

Goldman Sachs expects a $75 per barrel floor under Brent Crude prices that is unlikely to be breached due to the current macroeconomic fears of a U.S. recession. Oil prices slumped by 6% in the past few days, dragged down by weaker-than-expected jobs data in the U.S. on Friday, which …

The next U.S. president will have a very limited set of tools to materially boost oil supply in the United States, according to investment bank Goldman Sachs. Whoever wins the presidential election in November will have to contend with low stocks in the Strategic Petroleum Reserve (SPR). Moreover, any regulatory …

Goldman Sachs analysts have brushed off the latest events between Iran and Israel as a bullish factor for oil prices, citing potential hedging by producers. “Our commodities strategists do not expect substantial further upside to oil prices,” the bank said, as quoted by FXStreet, adding that “Hedge funds continued selling …

Houthi rebel disruptions reaching the Straits of Hormuz could double oil prices, Goldman Sachs has warned. In an interview given to American television station CNBC yesterday, head of the company’s oil research division Daan Struyven said: “the Red Sea is a transit route and a prolonged disruption there, oil can …

This week, Goldman Sachs raised its oil price target to $100 again. The bank cited lower OPEC output combined with higher demand, which taken together, “more than offset significantly higher U.S. supply.” The average gas price in the U.S. on September 20 was $3.875, slightly lower than a day earlier …

The OPEC+ production cuts are beginning to impact oil prices, Goldman Sachs’ Jeff Currie told CNBC on Tuesday. “What we’ve been waiting for for six months is finally beginning to play out,” Currie said when asked if we’re starting to see the beginnings of the bull case for oil. “Inventories …

Post-energy crisis hedging enthusiasm is prompting Goldman Sachs Group to launch plans for a Tokyo desk to trade Japanese power derivatives as trading volumes for Japanese power futures on the European Energy Exchange are set to soar by up to 3X. An executive with the European Energy Exchange (EEX) told …

Goldman Sachs continues to be bullish on crude oil and other major commodities, expecting a rally after the biggest-ever destocking in commodities that is currently underway. Should major economies, including the U.S., avoid deep recessions, the foundations for a rally across the commodity complex remain intact, Goldman Sachs analysts wrote …

Goldman Sachs Group Inc., one of the most bullish banks on its outlook for oil, has nudged its forecasts down as worries over the banking sector and the potential for recession outweigh a surge in demand from China. The bank’s analysts now see Brent reaching $94 a barrel for the …