Goldman Sachs Sees Oil Demand Destruction Offsetting Supply Shock Risks ...Middle East

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Goldman Sachs Sees Oil Demand Destruction Offsetting Supply Shock Risks
source : OILPRICE ( Middle East ) () 39
Demand destruction resulting from higher prices will somewhat soften the blow from physically tighter oil markets, Goldman Sachs commodity analysts said in a note. “We see significant upside price risks from potentially more persistent Mideast supply losses but also meaningful price downside from weaker demand,” the team said, as quoted by Bloomberg. “Actual end-use oil demand may have fallen more in response to higher prices than expected.” The investment bank’s analysts estimate that the extent of demand destruction…

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