Goldman Sachs Sees Modest 0.3 Million Barrels Per Day Decline In Iran Crude Supply By Q2
Jan 3 (Reuters) - GOLDMAN SACHS:
SAYS BASE CASE LOOKS FOR ONLY MODEST 0.3 MILLION BARRELS PER DAY (MB/D) DECLINE IN IRAN CRUDE SUPPLY TO 3¼ MB/D BY Q2 2025 AND FOR BRENT TO PEAK AT $78/BBL IN JUN-25
SAYS FOLLOWING THE RECENT TIGHTENING IN SANCTIONS, ITS PREFERRED 90 DMA NOWCAST HAS DECLINED MODESTLY TO 3.4 MB/D, WITH LEADING EDGE DATA SUGGESTING FURTHER DECLINES
SEES IRANIAN OIL EXPORTS TO DECLINE AS IT'S CRUDE OIL FLOATING STORAGE HAS BUILT TO HIGHEST LEVEL IN 12 MONTHS AND ITS EXPORT FLEET IS RELATIVELY STRETCHED, HISTORICALLY ASSOCIATED WITH SUBSEQUENT DECLINES IN IRAN'S CRUDE OIL EXPORTS
SEES RISKS TO IRAN'S PRODUCTION SKEWED TO THE DOWNSIDE, RETAIN BASELINE EXPECTATIONS
SAYS IT CONTINUES TO THINK PRICE RISKS ARE SKEWED HIGHER IN THE SHORT TERM
((Noel.John@thomsonreuters.com;))
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