Oil Prices Surge Amid OPEC+ Output Cuts and Mixed Demand Signals
TL;DR Summary
WTI crude oil prices surged to $80 a barrel, marking the best session in over two months, driven by anticipated demand and supply constraints. Goldman Sachs revised its long-term oil demand forecast upward, predicting peak demand around 2034. Energy stocks rallied, with significant gains in the Energy Select Sector SPDR Fund. Goldman Sachs also highlighted key energy stocks to buy and sell based on free cash flow, growth assets, and refining market exposure.
- WTI Crude Hits $80, Notches Best Day In Over 2 Months: 'Peak Oil Demand Still A Decade Away' - Canadian N Benzinga
- Signs of Weakening Oil Demand in China Multiply OilPrice.com
- Oil prices gain on expectations of OPEC+ extension to output cuts Reuters
- Latest Oil Market News and Analysis for May 29 Bloomberg
- Oil rises as major producers expected to keep output cuts in place CNBC
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