Following the recent strong fall in global oil prices, Goldman Sachs expects the markets to gradually come back to balance in the coming weeks, rather than months. As storage becomes saturated, price volatility will remain exceptionally high, but storage restrictions will force a dramatic drop in production to balance markets. This will pave the way for an eventual rise once demand is gradually restored.
Goldman Sachs confirmed that this inflection will play out in a matter of weeks, not months, with the market likely forced to balance before June.
Goldman Sachs confirmed that this inflection will play out in a matter of weeks, not months, with the market likely forced to balance before June.
