While demand for crude oil held up over the past year, the growth in oil supply has been surprisingly robust. The result has been softer oil prices, and that phenomena may continue in 2024, says Sarah Kiernan, head of Americas Commodities Sales in Global Banking & Markets at Goldman Sachs.
The price of a barrel of oil is likely to trade between $70 and $100 for most of 2024, according to Asset & Wealth Management Investment Strategy Group (ISG) at Goldman Sachs.
Saudi Arabia’s focus on diversifying its economy beyond oil is showing results, according to Goldman Sachs Research.
Critical minerals make the modern digital economy work, but increased geopolitical competition means nations and companies will need to adopt new approaches to build more diverse and resilient supply chains of these vital materials.
The surge in global investment into clean technologies is bolstering demand for the commodities needed to build electric vehicles, renewable power tech and energy storage. Green metals – aluminum, copper, nickel, lithium and cobalt – are poised to benefit from the trend throughout the decade and likely beyond, according to Goldman Sachs Research.
Commodities were the best-performing asset class in 2022 but have recently taken a hit as recession fears loom. So what's in store for them in 2023? In this episode of Exchanges at Goldman Sachs, Jeff Currie, global head of commodities research, explains why commodities are poised to outperform.
Just as commodity markets have been dominated by the dollar in 2022, Goldman Sachs Commodities analysts expect them to be shaped by underinvestment in 2023.
Amid a backdrop of slowing global growth as central banks act ever-more aggressively to rein in high inflation, the recent decline in commodity prices has been a rare bright spot. But whether the energy and food crises are really resolving, the implications for global growth, inflation, and political stability are Top of Mind.
Russia’s invasion of Ukraine has heightened the uncertainty over food supply, a global market that was already feeling the effects of COVID-19 and the ongoing impact of climate change. With the help of Goldman Sachs Research, we took a closer look at the regions most affected by surging food prices and the increasing cost of agricultural commodities and products.
Goldman Sachs Research analysts argue that the battery metals bull market has peaked. With climate change being top of mind, investors are fully aware that battery metals will play a crucial role in the 21st century global economy, just as bulk and base metals did before them.
As the war between Russia and Ukraine escalates, global commodities markets are going through the most upheaval since the 1973 oil embargo on the U.S. But this time the energy crisis is most acute in Europe, which relies more heavily on Russian exports. And the shock isn’t confined to one commodity. Russia is the second largest commodity producer in the world (behind the U.S.), and the repercussions of its invasion seem to have changed global supply chains overnight. We sat down with Goldman Sachs’ Global Head of Commodity Research Jeff Currie for his view on global commodities and the impact on markets.
In this episode of Exchanges at Goldman Sachs, Jeffrey Currie, global head of Commodities Research in Goldman Sachs Research, discusses why he believes commodities are entering a supercycle and how the current geopolitical landscape is shaping commodity markets.
As natural gas prices hit record highs in Europe and Asia, what does that mean for the broader commodity complex? Goldman Sachs Research’s Damien Courvalin explains the impact of rising prices on energy costs, inflation and economic growth.
Damien Courvalin, head of Energy within the Commodities Research team for Goldman Sachs Research, discusses his team’s latest outlook for commodities and why they’re raising their returns forecasts.
The global shipping industry has a sulfur problem. Although the world’s shipping fleet accounts for just 7% of the oil used by the transportation sector, it generates 90% of its sulfur emissions, contributing to respiratory and cardiovascular diseases in humans. With a new cap on marine fuel sulfur emissions set to take effect in 2020, there could be a significant impact across multiple sectors. Watch Video