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 US President Donald Trump, reports Reuters.
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.
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, the bank said.
Goldman forecasts decline in Iranian oil supply
FE Team | Published: January 05, 2025 21:36:01
Goldman forecasts decline in Iranian oil supply
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