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The Goldman Sachs crude oil market continues to be tight

 Last Update: 2023-02-10
 Source: Internet
 Author: User

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crude oil separation

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Goldman Sachs said demand for crude oil continues to outstrip supply and there is no sign that the slowdown is enough to balance supply and demand in the market in
the short term.

Damien Courvalin, head of energy research at Goldman Sachs, said Brent crude spot-to-futures premiums hit a record high, indicating the persistence of tight supply at current prices
.
"The spot market is still shouting very, very tight supply,"
he said.

Courvalin said that even if Biden persuades OPEC to increase supply, the situation will only temporarily ease and will not solve the problem of
underinvestment in the entire energy market.
The recent decline in crude oil futures due to recession fears has heightened the risk of underinvestment, as the current price curve hampers much-needed production growth
, he said.

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