Goldman Sachs Warns Of Limited Oil Supply Options For Next US Administration
Portfolio Pulse from Lekha Gupta
Goldman Sachs warns that the next U.S. administration will have limited options to significantly increase domestic oil supply due to low strategic petroleum reserves and potential regulatory easing. Oil prices rose following strong U.S. economic data, with Brent crude trading around $82 per barrel. Goldman Sachs forecasts Brent prices to range from $75 to $90 in 2025, but tariffs could lower prices significantly. GS shares are up 0.37% premarket.
July 26, 2024 | 1:58 pm
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POSITIVE IMPACT
Investors can gain exposure to Goldman Sachs via Global X Funds Global X Dow 30 Covered Call ETF (DJIA).
DJIA provides exposure to Goldman Sachs, which is relevant given the bank's significant analysis on oil supply and price forecasts.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Goldman Sachs warns of limited options for the next U.S. administration to boost oil supply, impacting long-term oil prices. GS shares are up 0.37% premarket.
Goldman Sachs' analysis on oil supply and price forecasts is significant for investors. The positive premarket movement in GS shares indicates investor confidence in the bank's outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Goldman Sachs via IShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI).
IAI provides exposure to Goldman Sachs, which is relevant given the bank's significant analysis on oil supply and price forecasts.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50