Tag Archives: Goldman Sachs Bank

Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting that this would be in no small part because of the production cuts implemented by all major producers. However, there are some 1.2 billion barrels …

Goldman Sachs said on Sunday that the deal between major oil producers to cut output by nearly 10 million barrels per day is ‘historic yet insufficient,’ adding that no deal would be enough to offset the sharp drop in demand already occurring. The investment bank still expects oil prices to …

The coronavirus pandemic and resulting plunge in crude prices will result in a leaner, stronger oil industry but raise the risk of shortages further down the line, Goldman Sachs analysts said March 30. Crude prices suffered another sharp fall on March 30 as the pandemic worsened and the Saudi Arabia-Russia …

American oil producers are slashing their budgets for new operations for the rest of this year, which means far fewer new rigs, a painful downturn for dozens of oil-field services companies and the certainty of layoffs, from Texas to North Dakota. Worldwide, the coronavirus pandemic has kneecapped the petroleum business, …

Most of the demand loss will come from jet fuel as the risk of disease discourages travelers from getting on a plane.

The outbreak of a deadly coronavirus that’s spread from China to the world is likely to impact oil markets globally.

Oil prices had peaked to their highest levels since the assault on two Saudi Arabian production facilities last September.

The bank still expects declining prices into 2020 due to better supplied markets next year.

Now prices are higher than they were in January.

A surge in OPEC production in late 2018 means the market started this year better supplied than the last.