OPEC would try to talk down an oil rally above $70 a barrel to cushion the impact on the global economy and rival supplies, according to Goldman Sachs Group Inc.
Oil has climbed to a three-year high above $69 in London amid OPEC production cuts, growing demand and political risks to supply. If prices keep rising, OPEC could see some unwelcome developments, such as greater investment by competitors including U.S. shale drillers, or central bank interventions to temper inflation, Goldman said.
