Goldman Sachs – Page 6 – Oil & Gas 360

Lloyd Blankfein sees `bubble elements’ in markets thanks to ‘free’ money

October 8, 2020

CNBC Former Goldman Sachs CEO Lloyd Blankfein sees speculative elements across markets for stocks and bonds. Blankfein, a billionaire who served as Goldman’s CEO from 2006 to 2018, said Thursday on CNBC’s “Squawk Box” that low interest rates were essentially creating free money for big institutional investors. After keeping rates low for years after the 2008 financial crisis, the Federal Reserve said last month that it

Goldman warns delayed election results this November similar to Bush-Gore could rock the market

July 8, 2020

CNBC Goldman Sachs is warning that the presidential election could see delayed results, and is therefore recommending that clients hedge their market bets through December in anticipation of heightened volatility through November. Goldman Sachs chief U.S. equity strategist David Kostin said several factors could delay the results beyond Nov. 3, including a rise in mail-in ballots as Covid-19 keeps people

China hires Morgan Stanley, Goldman Sachs to advise on pipeline asset transfers: sources

July 8, 2020

Reuters HONG KONG/BEIJING – Top Chinese energy firms have mandated investment banks Morgan Stanley and Goldman Sachs to act as advisers for multi-billion dollar deals transferring oil and gas pipeline assets into a national energy infrastructure giant, four sources said. Overseen by a government vice premier, underlining the project’s importance for Beijing, Beijing aims to complete the asset transfers and

Oil demand to return to pre-pandemic levels by 2022, Goldman says, but unlikely to peak this decade

July 2, 2020

CNBC Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending. In a research note published Thursday, analysts at the U.S. investment bank estimated global oil demand would decline by 8% in 2020, rebound by 6% in 2021 and “fully recover” to pre-coronavirus

Goldman traders gain $1 billion in commodities revenue after oil slump

June 10, 2020

Reuters Goldman Sachs Group Inc (GS.N) commodities unit generated more than $1 billion in revenue this year through May as traders positioned their bets for the collapse in oil prices, a source familiar with the group’s finances said on Wednesday. The gains were largely driven by oil trading, the source said, though other commodities, including natural gas, power and precious

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

June 9, 2020

CNBC Goldman Sachs sees a correction in oil prices on the horizon even amid a significant recovery in the last month and the recent decision by OPEC and its allies to extend historically large production cuts through July. “With oil now above $40/bbl, supplies will be incentivized to return, but we believe the risks to the downside have increased substantially

Rise of remote working is ‘biggest threat to oil demand,’ says analyst- oil and gas 360

Demand rise, output cuts could mean oil market balance in June

May 26, 2020

Reuters LONDON – Recovering demand as coronavirus lockdowns ease combined with output cuts by top producers could balance global oil markets as soon as June, some analysts and banks predict. “Bullish sentiment continues to gather momentum as we move closer to June, when … the global crude balance is set to reach net short territory, to the tune of a

Sharp oil price pullback unlikely as demand improves: Goldman

May 14, 2020

Reuters The risk of a sharp pull-back in oil prices has decreased as the rebalancing of the crude market gathers pace, Goldman Sachs said, aided by a gradual lifting of coronavirus lockdowns and a faster-than-expected fall in output. The Wall-Street bank raised its May global demand estimate by 1.4 million barrels per day (bpd), but still sees a decline of

Goldman Sachs warns jet fuel demand may never fully recover from the crisis

May 11, 2020

CNBC The coronavirus outbreak will have a lasting impact on the behavior of businesses across the globe, with jet fuel demand unlikely to ever fully recover, according to the head of commodities research at Goldman Sachs. The Covid-19 pandemic has meant countries have effectively had to shut down, with many governments imposing strict restrictions on the daily lives of billions of

UBS said its end-of-quarter price forecasts for Brent are $32 per barrel for 3Q20 and $43, $50 and $55 a barrel for the following three quarters. The bank’s bullish view on oil comes after Goldman Sachs also raised its price forecasts.- oil and gas 360

Oil outlook for this year and next turning brighter: UBS

May 5, 2020

Reuters UBS expects a pick-up in oil demand as virus-hit economies relax lockdowns and travel restrictions ease this month, with production to be subdued on the backdrop of current low prices and aggressive capital spending cuts by oil and gas producers. “We therefore expect the oil market to be balanced in third quarter and undersupplied in fourth quarter, and Brent

Goldman Sachs says it remains bullish on oil prices in 2021

May 4, 2020

Reuters Lower crude production due to reduced activity and OPEC+ cuts, coupled with a partial recovery in oil demand, should drive prices higher next year, Goldman Sachs Equity Research said in a note. The Wall Street bank raised its 2021 forecast for global benchmark Brent crude LCOc1 prices to $55.63 per barrel from $52.50 earlier. The bank hiked its estimate

Oil markets in ‘inflection phase’ after historic week of trade, Goldman Sachs says

April 23, 2020

CNBC The widow-making collapse in oil prices came to a pause in Asia trade on Thursday, but analysts aren’t convinced that the worst sell-off in oil market history is over yet. “We think that this is the inflection phase,” Goldman Sachs oil analyst Damien Courvalin told CNBC’s “Squawk Box Asia.” “Even though demand may not recover quickly, the production shut-ins

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