Goldman Sachs says next US president to have limited tools to significantly boost 2025 oil supply

The Brent crude futures contract for September traded around $82 a barrel and U.S. West Texas Intermediate crude for September was around $78.

Goldman Sachs expects Brent prices to range from $75 to $90 in 2025, assuming trend-like growth in gross domestic product (GDP) and steady oil demand as well as market balancing by the Organization of the Petroleum Exporting Countries and affiliates.

“While there is a lot of uncertainty about trade policy, tariffs on U.S. crude imports seem unlikely.”

Source from Reuters: https://www.reuters.com/business/energy/goldman-sachs-says-next-us-president-have-limited-tools-significantly-boost-2025-2024-07-26/