Adding to this posted earlier: Will the US respond to OPEC's "No extra output for you!" by releasing oil from its strategic reserve?
Goldman Sachs say any release from the US Strategic Petroleum Reserve (SPR) would provide only temporary price relief, and could backfire if it dissuades shale producers.
- our bullish view remains unchanged
- the oil deficit remains unresolved
- the current strength in oil demand remains a near-term tailwind and the increasingly structural nature of the deficits will require much higher long-dated oil prices
