Latest news with #GlobalCommoditiesResearch
Yahoo
5 days ago
- Business
- Yahoo
Struyven: OPEC Production Cuts Always Seemed Temporary
Oil steadied as traders weighed a large increase in US crude stockpiles and a wave of new tariff rates from President Donald Trump. Meanwhile senior officials from three of OPEC's core producer nations, Saudi Arabia, UAE, and Kuwait have said that the global market needed the recent decision to further hike supply. Daan Struyven, Co-Head of Global Commodities Research at Goldman Sachs spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche on the sidelines of the OPEC Seminar in Vienna.
Yahoo
22-05-2025
- Business
- Yahoo
Goldman Sachs On How Israel-Iran Tensions May Impact Oil Price
A possible strike on Iranian nuclear facilities could disrupt the supply of oil, according to Goldman Sachs Co-Head of Global Commodities Research Samantha Dart. While this would normally drive prices upwards, Dart adds the impact may be moderated over time by excess capacity in other OPEC countries. Dart speaks on Bloomberg's The Asia Trade. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-02-2025
- Business
- Yahoo
How Russian oil sanctions still weigh on the global energy market
The outlook for oil (CL=F, BZ=F) prices remains mixed, with the price of Brent crude expected to range between $70 and $85 per barrel. Goldman Sachs co-head of Global Commodities Research Daan Struyven joins Market Domination to highlight key factors that could drive oil prices higher. "In fact our valuation model for oil suggests that oil is currently underpriced by, you know, $6 to $7 per barrel," Struyven tells host Julie Hyman. The main drivers for potential price increases include low oil inventories, which are at levels not seen since mid-2022. Geopolitical factors, particularly regarding the war between Russia and Ukraine, could influence the oil market, but Struyven says "we don't think it would change the volumes of oil in the market." "However, while sanctions are constraining natural gas flows out of Russia, we don't think sanctions are constraining Russian flows out of Europe," Struyven says. He explains that while sanctions have affected Russian natural gas (NG=F), oil flows remain unaffected due to a production agreement between Russia and Saudi Arabia. Additionally, a slowdown in global growth could lead to some price reductions, but Struyven believes "it would take time" for demand and inventories to adjust. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Josh Lynch
