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- OPEC+ deal to boost oil prices – Goldman Sachs
OPEC+ deal to boost oil prices – Goldman Sachs
FXStreet reports that analysts at Goldman Sachs discuss Brent oil prospects.
"The agreement had two distinct points of focus: a moderate increase in production which will keep the market in deficit in the coming months, as well as guidance for higher capacity which will be needed in coming years given growing under-investment.”
"OPEC should focus on maintaining a tight physical market all the while guiding for higher future capacity and disincentivizing competing investments.”
"The OPEC+ deal represents $2 per barrel "upside" to its $80 per barrel summer Brent price forecast and a $5 upside to its $75 per barrel forecast for next year.”
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