Goldman: Harvey, Irma Cause 900,000 Bpd Drop In Demand

In the wake of the hurricanes Harvey and Irma, oil demand is expected to drop by some 900,000 bpd this month, Goldman Sachs said on Monday.   “Irma will have a negative impact on oil demand but not on oil production or processing,” Goldman analysts said in a note, as carried by Reuters. “Harvey’s negative impact on demand will remain larger, however, given the large concentration of energy-intensive petrochemical activity in its path,” the bank said. According to Goldman’s estimates, the combined effects…

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