Goldman: OPEC Oil Cuts Not A Structural Shift

Oil-producing nations recently pledged to cut supply by 1.76 million barrels a day. Of the cuts, 1.2 million barrels will come from OPEC nations. The decisions mark a big step in the oil cartel’s bid to bolster prices and to arrest an oil glut over the past two years. Also see Pierre Andurand: 70% Chance Of OPEC Deal, Oil Is … Astenbeck Capital’s Andrew Hall: The Oil Market Has .. GS expects OPEC Nations to return to high production levels Consequently, Goldman Sachs has revised its oil price forecasts for the short- to medium-term, but asserted that the cuts do…