Goldman Sachs: Oil Market Headed For Deficit In June

Goldman Sachs: Oil Market Headed For Deficit In June

OilPrice.com

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Improving global oil demand and faster-than-expected production curtailments from outside the OPEC+ pact are set to push the oil market into deficit next month, according to Goldman Sachs. Yet, there is little room for an oil price rally in the near term because of the still sizeable oversupply of crude oil and refined products, Goldman Sachs said in a note, carried by Reuters.   On the other hand, demand is improving from April lows and is limiting the downside for oil prices, the investment bank said.    “We believe that…

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