Global Oil Supply Will Keep Growing, Goldman Says

Group 1 - Equity futures are higher on S&P futures, while yields are marginally higher on the 10-year, and crude oil prices are continuing to fall [1] - Earnings reports from oil giants indicate a significant increase in oil production, estimated to be up 4% in Q4, which is four times more than a normal year [2] - The outlook suggests a potential downside of $10 per barrel on oil prices over the next year, with an average forecast of $56 per barrel [3] Group 2 - Exxon is considering taking on more debt to finance additional projects, indicating a strategy to maintain production levels [3] - There is an expectation of a sharp slowdown in global supply, which may lead to further price declines next year before a potential recovery [4]