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Goldman Sachs forecasts that artificial intelligence will negatively affect oil prices in the coming decade. The firm suggests that AI could enhance supply by lowering costs through improved logistics and increasing recoverable resources. This shift may lead to a decrease in income for oil producers, particularly those in OPEC+.
The report indicates that AI could reduce costs by approximately $5 per barrel, assuming a 25% productivity gain from early adopters. While there may be a slight increase in oil demand due to AI, the overall impact is expected to be a net negative on prices. Goldman Sachs estimates that AI could cut costs for shale wells by 30% and boost oil reserves significantly.
• AI may lower oil prices by enhancing supply and reducing costs.
• Goldman Sachs estimates a $5 per barrel decrease in oil prices due to AI.
AI is expected to improve logistics and resource allocation in the oil industry.
The report suggests a 25% productivity gain from AI adoption could significantly impact oil costs.
Improved logistics through AI could lead to reduced costs in oil production.
Goldman Sachs provides insights on the impact of AI on oil prices.
OPEC's income may be affected by the predicted decline in oil prices due to AI.
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