Oil Market Impacts from Venezuela – Goldman Sachs Exchanges

Bullish:

$GLD - Gold positioned for additional demand from central banks diversifying away from dollar amid US-China geopolitical tensions
$USMAJORS - US oil majors with Venezuelan footprint positioned to benefit from potential production increases and government support
$REFINERS - US Gulf Coast refiners perfectly positioned to process Venezuelan heavy oil with high margins due to infrastructure advantages

Bearish:

$SHALE - US shale producers face pressure from potential Venezuelan supply increases leading to lower prices and volumes
$EUROMAJORS - European oil majors negatively impacted by potential Venezuelan supply increases benefiting US companies
$OIL - Oil prices face downward pressure from potential Venezuelan production increases adding significant supply by 2030