US oil production will be "robust" for at least the next 18 months, Goldman Sachs said.
AdvertisementAmerica's oil production boom will last for at least the next 18 months, according to Goldman Sachs.
Analysts said they expect oil production in the Permian Basin to remain strong through the end of 2026, despite crude oil production slowing slightly from its rapid pace in 2023.
Oil production will keep growing, just at a slower clip in the coming years, the bank said.
Oil prices have risen this year as markets took in supply cuts from OPEC+ and escalating geopolitical tension in the Middle East.
Persons:
Goldman Sachs, —, Yulia Grigsby
Organizations:
Service, Analysts, US, US Energy Information Administration, West Texas, Goldman Sachs Research, International Energy Agency
Locations:
—, East