Goldman Sachs: Oil Markets To See Deficit Of 5 Million Bpd By End 2021

The oil market will end 2021 in a deficit of 5 million bpd as demand grows by another 2.2 million bpd in the second half of the year, Goldman Sachs analysts said in a note as quoted by Reuters. This means that OPEC+ needs to bring more supply online to help narrow this deficit because other suppliers would find it more challenging to step in and boost production, the bank also said. "While a large new infection wave could slow the market rebalancing, we expect OPEC+ to remain tactical in its output hikes with downside risks to global supply elsewhere…