This snippet from Goldman Sachs on oil comes via Reuters:
- production cuts by OPEC could result in a significantly larger deficit in the market, driving a rally in prices to $100 per barrel by April 2024
- it sees "elevated OPEC pricing power - the ability to raise prices without significantly hurting its demand - as the key economic driver"
Earlier this week from Goldman Sachs on the output cuts:
Barclays, similar:
Morgan Stanley not convinced:
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Oil price update, still with the big gap not filled:
