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Permian Basin drilling slowdown should support oil prices, Goldman Sachs says (USO:NYSEARCA)

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May 24, 2025 8:05 PM ETUnited States Oil Fund, LP ETF (USO), XLEAES, UCO, FCEL, LEU, HP, GPRE, SSL, DBO, WLK, UUUU, UNG, FCG, USL, UEC, SBSW, SCO, UNL, BNO, LTBR, CTGO, ENPH, BOIL, KOLD, SEDG, GUSH, DRIP, RUN, VVPR, SEI, USOI, CO1:COM, NG1:COM, CL1:COM, UROY, BROG, SLSR, MAXN, TMC, SMR, PPTA, OKLO, FTCI, ASPI, NNE, ELPW, VGBy: Carl Surran, SA News Editor
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A slowdown in drilling activities in the Permian Basin should provide underlying support to crude oil prices, Goldman Sachs said in its most recent energy note this month.

The bank said total U.S. rig and frac spread counts – referring to the number

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