RE:I don't always agree with Goldman, but when I do...wallop13 wrote: I must admit I didn't see this freeze not happening, but I agree with Goldman that it will keep US shale decline on track, leading to a sustainable deficit in supply. 3rd quarter seems optimistic, but nice to see some optimism, from Goldman of all people/analysts.
Analysts at Goldman Sachs said in a note the lack of agreement in Doha does not "imply that OPEC production will recover in the short-term, as the year-to-date stabilization owes to ongoing disruptions and maintenance rather than coordination," the analysts said.
Goldman's outlook for oil prices remains that "gradually improving fundamentals, driven by non-OPEC production declines and not OPEC or Russian production, will bring the market into a sustainable deficit in 3Q16."