Goldman Sachs on Wednesday re-issued its 2018 global oil demand growth forecast of 1.85 million barrels per day (bpd), despite recent signs of a slight slowdown, citing a strong start to the year Goldman Sachs raised its oil price forecasts for 2020, citing tighter-than-expected inventories after the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to deepen Oil demand is growing faster than expected in the first quarter, on pace to jump by nearly 2 million barrels per day in the first quarter, says Goldman Sachs. “Demand losses across the complex are now unprecedented,” Jeff Currie, head of commodities research at Goldman Sachs Group Inc (NYSE: GS)., wrote in a report, saying oil consumption is down by If Goldman Sachs strategists are right, the coronavirus will probably wreak havoc on the bottom lines of major oil producers in the first half of 2020 due to the plunge in crude prices. Higher vehicle efficiency and electric cars penetration, higher fuel prices, and lower economic growth may lead to a global oil demand peak as soon as in 2024, Goldman Sachs said in a research note on refining. "In our extreme case, we project peak oil demand in 2024," Goldman Sachs analysts said in the note, as quoted by Reuters.
Goldman Says Oil Could Drop $3 If Virus Plays Out Like SARS By . Sharon Cho, Global oil demand seen falling by 260k b/d; jet fuel hit most Concern over the virus’s impact on oil demand "The magnitude of the demand shock that we're seeing is on par with 08-09," Currie said in an interview on "Bloomberg Surveillance." Goldman Sachs Says Oil Has a Lot More Downside Risk Goldman Sachs sees Brent Crude prices averaging $63 a barrel for the full year 2020, he added.. Earlier this week, reports emerged that China’s oil demand amid the coronavirus outbreak is likely
Goldman Sachs Group Inc. became the first major Wall Street bank to anticipate that global oil demand will contract in 2020 for only the fourth time in nearly 40 years. The dire forecast came just Oil demand is growing faster than expected in the first quarter, on pace to jump by nearly 2 million barrels per day in the first quarter, says Goldman Sachs. Demand losses are now "unprecedented," Goldman Sachs said. The firm estimates oil use is down 8 million barrels per day amid the coronavirus outbreak. A vertical stack of three evenly spaced "Our constructive outlook for oil prices in 1H19 is predicated on both large supply cuts as well as resilient oil demand growth," Goldman analysts said in a research note released on Tuesday evening.
4 Mar 2020 This week, Goldman Sachs cut its 2020 global oil demand growth forecast placing it on negative turf of -150,000 barrels per day (bpd), i.e. a Jeff Currie, global head of commodities research at Goldman Sachs, discusses the turmoil engulfing global commodity markets as China's biggest buyer o Goldman Sachs said the oil market could see a record surplus of about 6 million barrels per day by April, considering a bigger- than-expected surge in low-cost 4 Feb 2018 Goldman's bullish outlook is driven by its revised demand forecasts, reflecting stronger economic growth in emerging markets. The bank also
16 Feb 2020 The optimism outweighed Goldman Sachs Group Inc slashing its crude demand growth forecast for this year almost in half and lowering its 4 Mar 2020 This week, Goldman Sachs cut its 2020 global oil demand growth forecast placing it on negative turf of -150,000 barrels per day (bpd), i.e. a Jeff Currie, global head of commodities research at Goldman Sachs, discusses the turmoil engulfing global commodity markets as China's biggest buyer o Goldman Sachs said the oil market could see a record surplus of about 6 million barrels per day by April, considering a bigger- than-expected surge in low-cost 4 Feb 2018 Goldman's bullish outlook is driven by its revised demand forecasts, reflecting stronger economic growth in emerging markets. The bank also 8 Mar 2020 Goldman Sachs cutting 2Q and 3020 Brent price forecasts to $30/bbl as it comes to a head with the significant collapse in oil demand due to 9 Dec 2019 Goldman forecasts that global oil supply/demand balances will be 0.3 million barrels per day tighter than previously expected as a result The