Goldman Sachs Executive Says Oil Supply To Fall Massively This Year, Hikes Price Forecast – Here Are the Targets
An executive at Goldman Sachs warns that tensions in the Middle East will lead to a sharp drop in global oil supply, forcing the bank to lift its price forecast for the commodity. In a new Bloomberg interview, Daan Struyven, Goldman Sachs co-head of global commodities research, says the bank doesn’t see an abrupt end to global oil supply disruption, believing that only 90% of oil production in the Persian Gulf will be recovered by December. According to Struyven, the disruption will lead to a significant decline in global oil supply this year. “We estimate that the world will lose cumulatively about two billion barrels of Persian oil production by year end. To put that in perspective, that is roughly 20% of global oil inventories in the whole world.” Struyven also says the loss in supply will likely be reflected in higher oil prices. “Our Brent upgrades to $90 a barrel by the fourth quar
Source: https://dailyhodl.com/2026/05/01/goldman-sachs-executive-says-oil-supply-to-fall-massively-this-year-hikes-price-forecast-here-are-the-targets/
