tradingkey.logo

Goldman Sachs forecasts decline in Iranian oil supply by Q2

ReutersJan 3, 2025 10:38 PM

- Goldman Sachs on Friday predicted a modest decrease in Iranian crude oil production as a result of expected policy changes and tighter sanctions from the administration of incoming U.S. President Donald Trump.

The investment bank's base case anticipates a 300,000 barrel-per-day (bpd) drop in Iran's crude supply to 3.25 million bpd by the second quarter of 2025. Analysts also forecast that the Brent oil benchmark will peak at $78 per barrel in June.

"Although we think risks to Iran's production are skewed to the downside from current levels and versus our forecasts, we retain our baseline expectations for Iranian crude oil production to decline to 3.25 mb/d by 2Q2025 for now," Goldman Sachs said in a research note.

The bank expects a continued decline in Iranian oil exports.

Iranian crude oil floating storage has built to a 12-month high of 20 million barrels and the Iranian export fleet is relatively stretched with high exports per vessel, historically associated with subsequent declines in Iran's crude exports, Goldman Sachs said.

(Reporting by Anmol Choubey in Bengaluru; Editing by Nia Williams)

((anmol.choubey@thomsonreuters.com;))

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

tradingkey.logo
tradingkey.logo
Intraday Data provided by Refinitiv and subject to terms of use. Historical and current end-of-day data provided by Refinitiv. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.
* References, analysis, and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgement of the analyst, without considering the investment objectives and financial situation of the investors.
Risk Warning: Our Website and Mobile App provides only general information on certain investment products. Finsights does not provide, and the provision of such information must not be construed as Finsights providing, financial advice or recommendation for any investment product.
Investment products are subject to significant investment risks, including the possible loss of the principal amount invested and may not be suitable for everyone. Past performance of investment products is not indicative of their future performance.
Finsights may allow third party advertisers or affiliates to place or deliver advertisements on our Website or Mobile App or any part thereof and may be compensated by them based on your interaction with the advertisements.
© Copyright: FINSIGHTS MEDIA PTE. LTD. All Rights Reserved.