Goldman Sachs sees OPEC+ unlikely to raise production at June meeting

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File photoMay 8 -

The bank said inventories have recently surprised to the upside, and as a result, their model now estimates only a 37% chance of a production increase decision in June. "While our interpretation of OPEC+ communication is that no final decision has been made, we now expect Saudi crude supply to remain flat at 9 mb/d in July " the Wall Street bank added.Brent crude futures to remain in a range of $75 to $90 a barrel in most scenarios and forecasts they will average $82 in 2025, it said in a note.Russian Deputy Prime Minister Alexander Novak said on Tuesday that there had been no discussions about an oil output increase by OPEC+.

BLR COM CRU ENER ENFF ENG ENR INTAG NRG OILG OPEC PROD RCH AMERS SWASIA US SA MEAST TGLF NAMER EMEA ASXPAC EMRG ASIA CDTY

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