Goldman Sachs: Lower oil prices to slow non-OPEC+ supply growth ...Middle East

When Brent trades between $50 and $70 per barrel, the effect on supply becomes more pronounced, with growth potentially falling by as much as 0.65 mb/d for each $10 price drop. Goldman notes that this asymmetric response reflects the economics of production, particularly for higher-cost producers in regions such as U.S. shale, where profitability becomes more strained at lower price points.

Goldman Sachs adds that with recession risks rising, and elevated spare capacity, the medium term risks to their oil price forecast remain to the downside.

This article was written by Eamonn Sheridan at www.forexlive.com.

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