SINGAPORE (Bloomberg) -- The outlook for oil is still bullish, according to Goldman Sachs Group Inc.
A plan by Saudi Arabia and Russia to revive production after over a year of curbs to clear a global glut signals supplies are currently tight, and isn’t a bearish development, analysts including Damien Courvalin wrote in a report. Even if the nations boost output by 1 MMbpd, that would only offset involuntary production declines, according to the bank.
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