Goldman Sachs Foresees OPEC+ Production Increases Starting December
GOLDMAN SACHS:
STILL EXPECTS THREE MONTHS OF OPEC+ PRODUCTION INCREASES, BUT HAVE PUSHED OUT THE START DATE TO DECEMBER (VERSUS. OCTOBER PREVIOUSLY)
STICKS TO $70-85 BRENT RANGE AND DECEMBER 2025 BRENT FORECAST OF $74/BBL
STILL SEES RISKS TO $70-85 RANGE AS SKEWED TO THE DOWNSIDE GIVEN HIGH SPARE CAPACITY, DOWNSIDE RISKS TO DEMAND FROM WEAKNESS IN CHINA, POTENTIAL TRADE TENSIONS