Permian Basin drilling slowdown should support oil prices, Goldman Sachs says

Written By Michael Gary Scott
May 24, 2025 8:05 PM ETUnited States Oil Fund, LP ETF (USO), XLEAES, UCO, FCEL, LEU, HP, GPRE, SSL, DBO, WLK, UUUU, UNG, FCG, USL, UEC, SBSW, SCO, UNL, BNO, LTBR, CTGO, ENPH, BOIL, KOLD, SEDG, GUSH, DRIP, RUN, VVPR, SEI, USOI, CO1:COM, NG1:COM, CL1:COM, UROY, BROG, SLSR, MAXN, TMC, SMR, PPTA, OKLO, FTCI, ASPI, NNE, ELPW, VGBy: Carl Surran, SA News Editor
Data analyzing in commodities energy market: the charts and quotes on display. US WTI crude oil price analysis. Stunning price drop for the last 20 years.

SlavkoSereda/iStock via Getty Images

A slowdown in drilling activities in the Permian Basin should provide underlying support to crude oil prices, Goldman Sachs said in its most recent energy note this month.

The bank said total U.S. rig and frac spread counts – referring to the number

5 Stocks Our Experts Predict Could Double In the Next Year

By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.

See also  Buy General Motors or Tesla Stock as Q4 Results Approach?