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Financial presentation slide / investment strategy report
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1.01 MB
Summary
This document is a slide (page 15) from a Goldman Sachs Investment Management Division presentation titled 'Risks of an Oil Shock Look Contained.' It analyzes global oil demand and inventories using data up to 2019, arguing that the market is stable due to adequate OECD inventories and the potential use of the US Strategic Petroleum Reserve. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was part of a document production for a Congressional investigation, likely related to financial records subpoenaed regarding Jeffrey Epstein's banking relationships, though Epstein is not explicitly named on this specific page.
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Source line cites Investment Strategy Group; Header cites Goldman Sachs
Key Quotes (4)
"Global oil inventories look adequate, with OECD inventories still well above historical norms."Source
HOUSE_OVERSIGHT_026959.jpg
Quote #1
"The US could release oil from its Strategic Petroleum Reserve if needed."Source
HOUSE_OVERSIGHT_026959.jpg
Quote #2
"Oil consumption represents a much smaller share of the economy than in the late 1970s and early 1980s."Source
HOUSE_OVERSIGHT_026959.jpg
Quote #3
"Risks of an Oil Shock Look Contained"Source
HOUSE_OVERSIGHT_026959.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (967 characters)
Risks of an Oil Shock Look Contained
Investment Management Division
Goldman Sachs
Investment Management Division
Goldman Sachs
1. OECD Inventories – Adjusted for Days of Demand
[Chart 1 Vertical Axis: Days of OECD demand 51 to 69]
[Chart 1 Horizontal Axis: 2010 to 2019]
Legend: 2010-2014 range, Actual 2010-19
Data points: 55.7, 67.0, 60.3
[Chart 1 Vertical Axis: Days of OECD demand 51 to 69]
[Chart 1 Horizontal Axis: 2010 to 2019]
Legend: 2010-2014 range, Actual 2010-19
Data points: 55.7, 67.0, 60.3
2. World Oil Demand and Oil Demand Intensity per Unit of Global GDP
[Chart 2 Left Vertical Axis: Billion Barrels 0 to 40]
[Chart 2 Right Vertical Axis: Barrels per $1,000 GDP 0.00 to 1.00]
[Chart 2 Horizontal Axis: 1965 to 2015]
Legend: World Oil Demand, Oil Intensity (RHS)
Data points: 0.9, 36
[Chart 2 Left Vertical Axis: Billion Barrels 0 to 40]
[Chart 2 Right Vertical Axis: Barrels per $1,000 GDP 0.00 to 1.00]
[Chart 2 Horizontal Axis: 1965 to 2015]
Legend: World Oil Demand, Oil Intensity (RHS)
Data points: 0.9, 36
Global oil inventories look adequate, with OECD inventories still well above historical norms.
The US could release oil from its Strategic Petroleum Reserve if needed.
Oil consumption represents a much smaller share of the economy than in the late 1970s and early 1980s.
The US could release oil from its Strategic Petroleum Reserve if needed.
Oil consumption represents a much smaller share of the economy than in the late 1970s and early 1980s.
Source: Investment Strategy Group, IEA, World Bank, BP Statistical Review.
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