The kingdom’s pledge to lower output by 1 million barrels a day in February and March was surprising for several reasons, Goldman analysts including Damien Courvalin and Jeff Currie said in a note dated Jan 5.
NEW YORK: Saudi Arabia’s decision to cut oil production probably reflects expectations for demand to weaken further as coronavirus lockdowns return around the world, according to Goldman Sachs Group Inc.
The kingdom’s pledge to lower output by 1 million barrels a day in February and March was surprising for several reasons, Goldman analysts including Damien Courvalin and Jeff Currie said in a note dated Jan 5.
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