Goldman Sachs expects global oil market to return to surplus as Middle East tensions ease

🌐 Hellenic Shipping News (Greece) —

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Goldman Sachs forecasts a return to a supply surplus in the global oil market as tensions in the Middle East ease and shipping through the Strait of Hormuz normalizes. The bank notes that although demand will be bolstered by the replenishment of strategic petroleum reserves, the easing conflict is a key factor supporting market rebalancing.

Goldman Sachs has forecast that the global oil market will return to a supply surplus as the impact of the Iran-Iraq conflict diminishes and shipping through the Strait of Hormuz returns to normal, AzerNEWS reports. According to the investment bank, increased demand driven by the replenishment of strategic petroleum reserves will support consumption but will ...

World Security Conflict Politics Markets Commodities Energy Shipping Goldman Sachs global oil market Middle East tensions Strait of Hormuz oil supply surplus strategic petroleum reserves

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