Goldman Sachs Sees Large Oil Demand Rebound This Summer ...Middle East

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Goldman Sachs Sees Large Oil Demand Rebound This Summer
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Goldman Sachs is still bullish on oil and anticipates strong demand that would require OPEC+ putting another 2 million barrels per day (bpd) on the market in the third quarter, after the around 2 million bpd that the alliance and Saudi Arabia decided to return between May and July. “We forecast a larger rebound in oil demand this summer than OPEC and the IEA, requiring an additional 2 mb/d increase in OPEC+ production from July to October,” Goldman Sachs said, as quoted by CN Wire. The investment bank expects excess oil inventories…

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