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Goldman Sachs Expects Another OPEC+ Superhike in September ...Middle East
The OPEC+ producers are expected in August to agree on another superhike in production for September that would complete the unwinding of the 2.2 million barrels per day (bpd) output cuts, Goldman Sachs said after the alliance surprised the market with a larger-than-forecast boost for August. The OPEC+ group is set to unwind the last 550,000 bpd of the 2.2-million-bpd cut in September, the investment bank said in a weekend note. On Saturday, the eight OPEC+ producers withholding supply to the market decided to ramp up oil production more aggressively…
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