According to Goldman Sachs, the rise of artificial intelligence (AI) could lead to higher oil prices by increasing productivity and demand across various industries. AI is expected to enhance efficiency in areas like logistics and supply chain management, potentially driving up oil demand. Additionally, AI could boost economic growth, further fueling energy consumption. However, AI may also improve energy efficiency, partially offsetting the increased demand. Goldman Sachs predicts that AI could add $1.6 trillion to global GDP by 2025, with the potential to raise oil prices by $3 to $7 per barrel. The impact on oil prices will depend on the balance between AI’s productivity gains and its effect on energy efficiency. Overall, the analysis suggests that AI could be a significant factor influencing future oil supply and demand dynamics.
AI Could Boost Oil Prices by Boosting Productivity and Demand, Goldman Sachs Says
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