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Goldman Sachs Warns Of Limited Oil Supply Options For Next US Administration
The Goldman Sachs Group, Inc. (NYSE:GS) reportedly stated that the winner of the U.S. presidential election in November will have limited options to significantly increase domestic oil supply next year.
What Happened: The bank noted that low strategic petroleum reserve stocks and potential regulatory easing are unlikely to significantly boost U.S. oil supply in the short term, though they could impact long-term supply.
Oil prices edged up on Friday following U.S. economic data that exceeded analyst forecasts, boosting investor expectations for higher crude oil demand from the world’s largest energy consumer.
Brent crude futures for September were trading around $82 per barrel, while U.S. West Texas Intermediate crude ...