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Goldman Sees Upside Oil Price Risk Despite OPEC+ Supply Decision

  • OPEC+ move likely to assuage tensions with Washington
  • Prices overshot on downside on omicron fears, bank says
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Jeff Currie: Get Long Oil on ‘Enormous’ Upside Potential

Oil prices are primed for gains as Thursday’s decision by OPEC+ to proceed with planned production increases won’t derail an ongoing structural bull market, according to analysts at Goldman Sachs Group Inc.

The investment bank sees “very clear upside risks” to its forecast for Brent oil to average $85 a barrel in 2023.