AM Update: Don't trust Goldman's take on oil at all

Plus: Why the Permian is heating up [Image](   [ARCHIVES]( LIVE]( [Twitter]( [Youtube]( [Instagram]( [Tiktok]( [Discord]( [LinkedIn]( May 1, 2023 Dear Reader, Last week, I admitted I love to say “I told you so,” and here we are again: [I told you not to trust Goldman Sachs (GS) when they start talking oil prices.]( Over my birthday weekend, April 2, OPEC slashed global production by 1 million barrels to support collapsing prices. The cuts widened the cartel’s total 2023 reductions to 3.66 million barrels per day (bpd). It’s not hard to understand why. Global growth is cratering around the world. The International Monetary Fund (IMF) (which is very good at forecasting economic growth) projected an international growth level next year of 2.8%. The projection over the next five years is just 3%. Now, there are two primary drivers of this slowing figure that I’ll address today: demographics and debt. Keep those two in mind, we’ll talk about them later. What matters at this early hour is oil - the engine of global economic activity. Right after OPEC’s cuts this month - Goldman Sachs continued to project its $95 per barrel price for the end of 2023. Now, Goldman notes an oil shortage is coming (a forecast I happen to agree with). That said, the headline is enough to generate significant speculation around the oil patch. People see OPEC’s cuts, and they pile into oil because they hear Goldman suggest that $95 is in the cards soon. [No - and let me show you why...]( Cheers! Garrett {NAME} Did you miss the show? No worries, we’ve got you covered.   Viral Clip Exposes This Former Hedge Fund Manager’s #1 Investment Play The DOE is pouring billions - $13 billion to be exact – into a specific investment class. And this company has a strong advantage over all its competitors. Its shares are currently priced at a mere $4.38, but this deal closes soon… [Full report.]( REPORTS   [Welcome to Momentum]( [Trading Momentum]( [Trading Fundamentals]( [Trading the Fed]( [Trading Insiders]( WATCH REPLAYS   [The Most Powerful Trading Tool of His 34-Year Career]( This Technology Made Him A Fortune... [NOW IT'S AT YOUR FINGERTIPS]( [Watch the Show!]( [Sneak A Peek Inside the Trading Room](       You are receiving this e-mail at {EMAIL}, as part of your subscription to Midday Momentum. To remove your email from this list: [unsubscribe here]( Please do not reply to this email as this address is not monitored. To cancel, or for any other questions or requests, please contact our Customer Service team: Online: [Customer Service Form]( Phone: 888-384-8339 (North America) 443-353-4519 (International) Mail: Midday Momentum | Attn: Member Services | 1125 N Charles Street | Baltimore, MD 21201 Fax: 410-622-3050 Our Customer Service team is available Monday ­ Friday between 9:00 AM and 5:00 PM ET. © 2023 Money Map Press. All Rights Reserved. Nothing in this email should be considered personalized financial advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of: Money Map Press. 1125 N Charles Street, Baltimore, MD 21201. [Website]( | [Privacy Policy]( | [Terms & Conditions](