December 10, 2022

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More from the Goldman Sachs note on oil

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A little more from the note now, in summary. GS says that while output will be increased the oil market will still be in deficit in the coming months.Increased supply, but not enough for a glut has “supply increasingly becoming the source of the bullish impulse”.

The OPEC+ agreement over the weekend means the cartle and allies will keep a tight physical markets even while providing guidance of higher future capacity and thus acting as a disincentive for non-members (US shale in their sights) to invest. 

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