According to Goldman Sachs, the next U.S. president will have limited options to quickly increase domestic oil supply.
The next U.S. president will have a very limited set of tools to materially boost oil supply in the United States, according to investment bank Goldman Sachs . Whoever wins the presidential election in November will have to contend with low stocks in the Strategic Petroleum Reserve SPR . Moreover, any regulatory easing on the U.S. oil industry – expected if Donald Trump wins – would only have an impact on the longer-term U.S.
“The annual average production growth in the maturing Permian basin is likely to gradually decline from an exceptionally strong 520,000 barrels per day in 2023 to 340,000 barrels per day this year, and to a still robust 270,000 barrels per day in 2026,” Yulia Grigsby, an energy economist in Goldman Sachs Research, wrote.
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