Tag Archives: Goldman Sachs Bank

Goldman Sachs has raised its oil price forecasts “significantly” through 2023, its latest commodities research note has revealed. The company now sees Brent spot prices at $96 per barrel in 2022 and at $105 per barrel in 2023, according to the research note, which was sent to Rigzone. Goldman Sachs’ …

Goldman Sachs Group Inc. plans to reduce the carbon footprint of its fossil-fuel clients by a fifth, and slash emissions in other key customer groups as it acts on a pledge to make its business climate neutral by mid-century. By 2030, the Wall Street firm intends to have lowered the …

Two investments banks, Goldman Sachs and Bank of America, have projected the crude oil price to hit between $85 and $100 in the coming months. The banks’ projection would come as good news for Nigeria despite production output struggles. In a note published on Friday, Goldman Sachs predicted an $80 …

OPEC+ is unlikely to respond with increased production to the U.S. calls amid the surging Delta variant, which is set to dampen short-term oil demand, Goldman Sachs says. Earlier this week, the White House called on the OPEC+ group to increase oil production more than they had planned in order …

China’s oil demand is expected to be 1 million barrels per day (bpd) lower in the next two months than previously expected due to the rising number of COVID cases in the world’s top crude importer, Goldman Sachs says. Still, the overall hit to global oil demand will be more …

Goldman Sachs is still bullish on oil and anticipates strong demand that would require OPEC+ putting another 2 million barrels per day (bpd) on the market in the third quarter, after the around 2 million bpd that the alliance and Saudi Arabia decided to return between May and July. “We …

If prices for the commodity average $65 a barrel and all else is equal, borrowing needs for the six countries comprising the council would drop 96% from what they’d be if oil traded at $45, an economist writes The Gulf Cooperation Council’s borrowing requirements could drop to $10 billion over …

Oil prices will rally faster and sharper than previously expected as demand outstrips supply increases from OPEC+, Iran and U.S. shale, according to Goldman Sachs Group Inc. A reopening of the global economy will help demand return to pre-COVID-19 levels, but inventories remaining tight into the summer will cause West …

Initial steps taken by U.S. President Joe Biden’s administration may help support the oil market this year and next, according to Goldman Sachs Group Inc. A focus on fiscal spending, a probable lack of urgency in lifting sanctions on Iran and restrictions on the North American energy industry all combine …

Saudi Arabia’s decision to cut oil production probably reflects expectations for demand to weaken further as coronavirus lockdowns return around the world, according to Goldman Sachs Group Inc. The kingdom’s pledge to lower output by 1 million barrels a day in February and March was surprising for several reasons, Goldman …