With Brent oil prices having surged to about $90 a barrel, oil cartel Opec and its allies may announce a bigger-than-expected rise in output, according to Goldman Sachs.
“We view growing potential for a faster ramp-up at this meeting, given the pace of the recent rally and the likely pressure from importing nations,” analysts including Damien Courvalin, Callum Bruce and Jeffrey Currie wrote in a report. Goldman said such a move by Opec would result in a short-term blip for crude prices and would not change the bank’s bullish view. The rapid decline in Covid-19 cases, strong demand so far in 2022 and initial earnings from US producers “all reinforce our conviction in the need for sharply higher prices”, the bank said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs sees faster ramp-up of oil outputWall Street bank analysts say price surge may lead to bigger-than-expected production rise I never believe in making money online before but since I started seeing different people testifying about Dennismayson9,i was so interested in to investing with him because all friends who Invested have all received their profits successfully and so do I Dennismayson9
Source: BDliveSA - 🏆 12. / 63 Read more »
Goldman Sachs sees faster ramp-up of oil outputWall Street bank analysts say price surge may lead to bigger-than-expected production rise I never believe in making money online before but since I started seeing different people testifying about Dennismayson9,i was so interested in to investing with him because all friends who Invested have all received their profits successfully and so do I Dennismayson9
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »
Oil up on likely supply tightnessPrices hover near seven-year highs hit last week
Source: BDliveSA - 🏆 12. / 63 Read more »