Goldman Sachs: With the upward risk of oil prices, the export demand for industries such as China's electric vehicles may heat up in the future.

In the latest research report, the macroeconomic team of Goldman Sachs mentioned that in the short term, the commodity team still believes that oil prices face upward risks. Low-income emerging economies are most vulnerable to shocks as they lack large oil inventories and are unable to provide massive fiscal subsidies to protect households and businesses from rising energy costs. In the medium term, Goldman Sachs' macroeconomic team believes that extreme price fluctuations caused by Middle East conflicts may prompt oil-importing countries to focus on strengthening energy supply security in the coming years. China is a leader in key industries such as electric vehicles, batteries, and power generation equipment, and its exports and growth after 2027 may benefit from global demand for these products.