GS · News · 20260923N

Oil Market Oversupply Outlook

GOLDMAN SACHS GROUP INC · 2026-09-23 · Importance 14 · Surprise 24

Goldman Sachs expects China’s oil imports to remain subdued in the fourth quarter of 2026. Imports are projected to increase by only about 600,000 barrels per day, reflecting limited recovery in Chinese demand. Elevated crude prices could restrain purchases and temper further oil-price increases.

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