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. Cushing Crude Oil Inventories. The value of the indicator has decreased from -0.648M to -1.702M
13 May
United States. Crude Oil Inventories. The value of the indicator has decreased from -2.313M to -4.306M
13 May
United States. API Weekly Crude Oil Stock. The value of the indicator has increased from -8.1M to -2.188M
12 May
United States. OPEC Crude oil Production Saudi Arabia (Barrel). The value of the indicator has decreased from 9.95M to 7.65M
11 May
United States. OPEC Crude oil Production UAE (Barrel). The value of the indicator has decreased from 2.1M to 2M
11 May
Top news
United States. Retail Sales (MoM). The value of the indicator has decreased from 1.6% to 0.5%
Yesterday at 12:30 PM
European Union. GDP (QoQ). The value of the indicator remained at the same level of 0.1%
13 May
United States. CPI (YoY). The value of the indicator has increased from 3.3% to 3.8%
12 May
United States. Nonfarm Payrolls. The value of the indicator has decreased from 185K to 115K
8 May
United States. Unemployment Rate. The value of the indicator remained at the same level of 4.3%
8 May
All news

Forecasts

ETHUSD buy
Period: 28.05.2026 Expectation: 155 pips
Investing in ETHUSD up to $2,425
Indicators and reports FA Other Hot news Chart analysis
Yesterday at 11:11 AM 33
Reed_Marcus
Gold buy
Period: 21.05.2026 Expectation: 900 pips
Purchasing gold with $4,790 in view during consolidation following recent correction
FA Other Technical analysis Indicators Chart analysis Fundamental analysis
Yesterday at 10:26 AM 30
Lyra_Moonwell1
USDJPY buy
Period: 14.07.2026 Expectation: 2700 pips
Investing in USDJPY with 160.700 target
Indicators and reports FA Other Hot news Chart analysis
Yesterday at 09:21 AM 32
Sinclair_John
EURUSD sell
Period: 31.05.2026 Expectation: 900 pips
​​EURUSD sell-off targets 1.1655
FA Other TA Other
Yesterday at 09:12 AM 13
Bruce_Powers
S&P 500 sell
Period: 30.06.2026 Expectation: 1600 pips
Go short on SPX as correction risks mount
TA Other
Yesterday at 09:10 AM 7
McCarthy_Raymond
S&P 500 sell
Period: 21.05.2026 Expectation: 1500 pips
Selling S&P 500 with 7,300 target amid inflation shock and overheated market conditions
Indicators and reports Technical analysis Indicators Hot news Fundamental analysis
Yesterday at 08:03 AM 18
Emily_Foster
Go to forecasts