Goldman Sachs Sees Oil Demand Destruction Offsetting Supply Shock Risks | EN590 Commodities
EN590 Commodities GroupCrude Oil June 01, 2026
Goldman Sachs Sees Oil Demand Destruction Offsetting Supply Shock Risks Analysts warn record inventory drawdowns,… Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. Demand destruction resulting from higher prices will somewhat soften the blow from physically tighter oil markets, Goldman Sachs commodity analysts said in a note. “We see significant upside price risks from potentially more persistent Mideast supply losses but also meaningful price downside from weaker demand,” the team said, asquotedby Bloomberg. “Actual end-use oil demand may have fallen more in response to higher prices than expected.” The investment bank’s analysts estimate that the extent of demand destruction may have reached 2 million barrels daily in May, based on
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