Goldman Expects OPEC+ Output Hikes to End in August ...Middle East

Goldman Sachs expects OPEC+ to make its final production hike in August at the now standard level of 411,000 barrels daily. “Relatively tight spot oil fundamentals, beats in hard global activity data, and seasonal summer support to oil demand suggest that the expected demand slowdown is unlikely to be sharp enough to stop raising production when deciding on August production levels on July 6th,” the bank said in a note, as cited by Reuters. OPEC+ on Saturday announced another 411,000-bpd production boost to its total for the month of…

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