Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
24 October 2022 | Other

Goldman Sachs analysts believe SPR releases won't have a significant impact on oil price

Brent
WTI Light Crude Oil

Goldman Sachs reported Thursday that the Cabinet of Joe Biden intends to continue to release Strategic Petroleum Reserve (SPR) to the extent necessary. For the most part, the goal of such actions is to lower retail rates, which at the current level of oil prices are unlikely to fall on their own.

OPEC+ recently announced that they plan to reduce oil production. Wanting to prevent spikes in the price of oil, Joe Biden decided to sell 15 million barrels from the strategic oil reserve by the end of this year. He announced it on Wednesday. 

Goldman Sachs predicts the price per barrel of Brent oil in 2022 will be $104, while in 2023 the price will increase to $110.

Company MarketCheese

Recommended

United States. CFTC Crude Oil speculative net positions. The value of the indicator has decreased from 155.9K to 130.3K
Today at 7:30 PM
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has decreased from 563 to 562
Today at 5:02 PM
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has increased from 431 to 433
Today at 5:01 PM
United States. OPEC Crude oil Production UAE (Barrel). The value of the indicator has increased from 2M to 2.1M
10 June
United States. OPEC Crude oil Production Saudi Arabia (Barrel). The value of the indicator has decreased from 7.65M to 6.5M
10 June
Top news
European Union. Deposit Facility Rate. The value of the indicator has increased from 2% to 2.25%
Yesterday at 12:15 PM
European Union. ECB Interest Rate Decision. The value of the indicator has increased from 2.15% to 2.4%
Yesterday at 12:15 PM
Canada. BoC Interest Rate Decision. The value of the indicator remained at the same level of 2.25%
10 June
United States. CPI (YoY). The value of the indicator has increased from 3.8% to 4.2%
10 June
United States. Trade Balance. The value of the indicator has increased from $-56.6B to $-55.9B
9 June
All news

Forecasts

S&P 500 buy
Period: 30.06.2026 Expectation: 3000 pips
Buy SPX if Producer Price Index stays cool
TA Other FA Other
Yesterday at 11:34 AM 53
McCarthy_Raymond
ETHUSD buy
Period: 11.07.2026 Expectation: 300 pips
Buying ETHUSD up to $1,950
FA Other Indicators and reports Hot news Chart analysis
Yesterday at 11:30 AM 43
Sinclair_John
Gold sell
Period: 18.06.2026 Expectation: 1200 pips
Sell gold with $3,980 target during brief rebound
FA Other Technical analysis Indicators Chart analysis Fundamental analysis
Yesterday at 11:01 AM 52
Lyra_Moonwell1
USDJPY buy
Period: 11.07.2026 Expectation: 1500 pips
Invest in USDJPY ahead of BoJ meeting
FA Other Indicators and reports Hot news Chart analysis
Yesterday at 10:00 AM 42
Reed_Marcus
USDJPY buy
Period: 31.07.2026 Expectation: 800 pips
Invest in USDJPY up to 161.50
TA Other FA Other
Yesterday at 06:35 AM 38
McCarthy_Raymond
GBPUSD sell
Period: 31.07.2026 Expectation: 1900 pips
Selling GBPUSD down to 1,3200
TA Other FA Other
Yesterday at 06:35 AM 24
McCarthy_Raymond
Go to forecasts