Goldman Sachs: OPEC+ Cuts Provide Near-Term Upside to Oil Prices

The ongoing OPEC+ oil production cuts and the improved compliance with quotas from some producers are supporting Brent Crude, offering a modest upside to oil prices in the near term, according to Goldman Sachs. The U.S. investment bank expects the OPEC+ cuts to be rolled over again and the easing of the output curbs could begin gradually in April 2025, after the first quarter of next year ends. “Saudi Arabia is more likely to extend oil production cuts because of the recent price drop and we now think that oil production cuts will last until…