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
Today at 2:30 PM
United States. Crude Oil Inventories. The value of the indicator has decreased from -2.313M to -4.306M
Today at 2:30 PM
United States. API Weekly Crude Oil Stock. The value of the indicator has increased from -8.1M to -2.188M
Yesterday at 8:42 PM
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
European Union. GDP (QoQ). The value of the indicator remained at the same level of 0.1%
Today at 9:02 AM
United States. CPI (YoY). The value of the indicator has increased from 3.3% to 3.8%
Yesterday at 12:30 PM
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
European Union. Retail Sales (MoM). The value of the indicator has increased from -0.3% to -0.1%
7 May
All news

Forecasts

USDCAD buy
Period: 13.06.2026 Expectation: 1000 pips
Go long on USDCAD with 1.38800 target in play
FA Other Indicators and reports Chart analysis Hot news
Today at 10:48 AM 21
Sinclair_John
Natural gas buy
Period: 20.05.2026 Expectation: 100 pips
Natural gas prices are correcting within upward channel ahead of another rally
Technical analysis FA Other Indicators Chart analysis Fundamental analysis
Today at 09:39 AM 15
Lyra_Moonwell1
NVIDIA Corporation buy
Period: 20.05.2026 Expectation: 1000 pips
Investing in NVIDIA stock with $230 in sight
FA Other Indicators and reports Chart analysis Hot news
Today at 09:06 AM 11
Reed_Marcus
EURUSD sell
Period: 20.01.2028 Expectation: 500 pips
Hot US inflation and geopolitical jitters weigh heavily on EURUSD
Technical analysis FA Other Indicators and reports Indicators Fundamental analysis
Today at 06:26 AM 16
Emily_Foster
BTCUSD buy
Period: 12.06.2026 Expectation: 4700 pips
Invest in Bitcoin up to $86,000
FA Other Indicators and reports Chart analysis Hot news
Yesterday at 10:09 AM 35
Reed_Marcus
GBPUSD buy
Period: 31.05.2026 Expectation: 1900 pips
Buying GBPUSD on low US inflation
Indicators and reports Chart analysis
Yesterday at 09:54 AM 35
Bruce_Powers
Go to forecasts