Goldman says a Biden win could be a ‘positive catalyst’ for oil prices

SourceCNBC
SectorOil & Gas
CountryGCC

Oil pipelines, pumping rigs, and electrical transmission lines dot the landscape along California's "Petroleum Highway" (Highway 33) running along the northwestern side of the San Joaquin Valley on April 24, 2020, near McKittrick, California.George Rose | Getty Images News | Getty ImagesDespite a grim demand outlook for energy as the coronavirus pandemic continues to weigh down the global economy, Goldman Sachs remains bullish on both oil and gas prices — regardless of the U.S. presidential election outcome in November."We do not expect the upcoming U.S. elections to derail our bullish forecasts for oil and gas prices, with a Blue Wave likely to be in fact a positive catalyst," the bank's commodities team wrote in a research note Sunday.  "Headwinds to U.S. oil and gas production would rise further under a Joe ...read more...