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Global Oil Supply Will Keep Growing, Goldman Says
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Why This Matters
Goldman Sachs predicts a continued growth in global oil supply, potentially leading to a $10 drop in oil prices over the next year, following positive earnings reports from Exxon Mobil and Chevron.
Market Impact
Market impact analysis based on bearish sentiment with 80% confidence.
Sentiment
Bearish
AI Confidence
80%
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Goldman Sachs Head of Oil Research Daan Struyven says the global oil supply will keep growing. He says oil prices could drop by another $10 per barrel over the next year. Oil giants Exxon Mobil and Chevron both beat Wall Street expectations on earnings. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)
Original article published by
Bloomberg
on October 31, 2025.
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Analysis and insights provided by AnalystMarkets AI.