Goldman Sachs Slashes Its Oil Price Forecast Yet Again ...Middle East

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Goldman Sachs Slashes Its Oil Price Forecast Yet Again
source : OILPRICE ( Middle East ) () 39
Goldman Sachs has slashed its oil price forecast for a third time in one month after OPEC+ decided this weekend to hike production in June with a similar 410,000-bpd increase it is implementing in May. In an online meeting on Saturday, key OPEC+ producers led by Saudi Arabia and Russia agreed to raise collective output by 411,000 barrels per day (bpd), nearly triple the volume originally scheduled. The move follows a similar surge announced for May and signals a sharp reversal from OPEC+ efforts to defend oil prices. Following the announcement…

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