Goldman Sachs: OPEC cuts could see a significantly larger market deficit, price to $100

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:

Goldman Sachs oil opec cut

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