Here’s What Goldman to UBS Say About Oil After Big OPEC+ Cut
- Analysts see global benchmark Brent rallying back above $100
- RBC says actual reduction likely to be about 1 million barrels
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The OPEC+ alliance agreed to its biggest production cut since the start of the pandemic in Vienna on Wednesday, a move that drew a swift rebuke from the US and prompted Goldman Sachs Group Inc. to increase its price forecast for global benchmark Brent crude this quarter.
Here’s what leading analysts have to say about the oil market after the group pledged to slash daily output by 2 million barrels from November: