Goldman Says Oil Drawdowns Hit Record Pace as Buffer Shrinks The oil market is facing a perfect storm, driven by the toxic mix of geopolitics and economic fundamentals that threaten to upend global energy dynamics.
The latest indicator of this precarious situation is the record pace at which crude oil and product stockpiles are being drawn down, according to Goldman Sachs Group Inc.
A War Driven Energy Crisis The conflict in the Middle East has been a ticking time bomb for the oil market, and its effects are finally manifesting.