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 increased from 97K to 124.6K
Yesterday at 8:30 PM
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 546 to 551
Yesterday at 6:01 PM
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has increased from 411 to 412
Yesterday at 6:01 PM
United States. Total Vehicle Sales. The value of the indicator has decreased from 16M to 14.9M
4 February
United States. All Car Sales. The value of the indicator has decreased from 2.67M to 2.6M
4 February
Top news
European Union. Deposit Facility Rate. The value of the indicator remained at the same level of 2%
5 February
European Union. ECB Interest Rate Decision. The value of the indicator remained at the same level of 2.15%
5 February
United Kingdom. BoE Interest Rate Decision. The value of the indicator remained at the same level of 3.75%
5 February
European Union. Retail Sales (MoM). The value of the indicator has decreased from 0.1% to -0.5%
5 February
European Union. CPI (MoM). The value of the indicator has decreased from 0.2% to -0.5%
4 February
All news

Forecasts

GBPUSD sell
Period: 13.02.2026 Expectation: 1500 pips
GBPUSD temporarily recovers following BoE rate decision
Technical analysis FA Other TA Other Indicators Fundamental analysis
Yesterday at 10:57 AM 25
Lyra_Moonwell1
Lyra_Moonwell1
Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
ETHUSD buy
Period: 31.07.2026 Expectation: 1000 pips
Buying ETHUSD on major dip
TA Other
Yesterday at 09:54 AM 32
Bruce_Powers
Silver buy
Period: 31.05.2026 Expectation: 30000 pips
Investing in silver for medium term
FA Other Chart analysis
Yesterday at 09:53 AM 26
McCarthy_Raymond
Brent sell
Period: 13.02.2026 Expectation: 210 pips
Brent crude stabilizes as geopolitical premium fades away
Technical analysis FA Other Hot news Indicators Fundamental analysis
Yesterday at 07:29 AM 20
Emily_Foster
ETHUSD sell
Period: 12.02.2026 Expectation: 25000 pips
Selling ETHUSD when it bounces up to $2,250 resistance
Technical analysis FA Other TA Other Indicators Fundamental analysis
05 February 2026 26
Lyra_Moonwell1
Lyra_Moonwell1
Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
S&P 500 buy
Period: 31.03.2026 Expectation: 220 pips
Buy SPX starting from $6,820
FA Other Chart analysis
05 February 2026 33
McCarthy_Raymond
Go to forecasts