Goldman Sachs OPEC production is not expected to change oil prices-roxane hayward

Goldman: OPEC production does not change the expected price according to the CNBC article, OPEC last night to reach a reduction in oil production agreement, which may bring some support to the international oil prices, but Goldman Sachs said the supply of crude oil is expected in the future did not appear to change. Goldman Sachs said in a report to customers, insisted that the end of this year, WTI oil prices of $43 a barrel, to $53 a barrel in 2017. Goldman Sachs earlier this year, the price of oil is expected to drop from $50 a barrel to $43 a barrel. Goldman Sachs analysts said: if the OPEC cut oil production agreement can be strictly enforced to support oil prices, we expect oil prices will rebound, but there will be a lot of oil wells into production." Reuters and other media reports, OPEC Member States reached an agreement in Algeria, agreed to cut oil production, which is the first time since 2008, the organization reached an agreement to cut production. According to Reuters, OPEC member countries agreed to limit the daily production of 32 million 500 thousand barrels to between 33 million barrels, in August OPEC members of the domestic oil production of 3320 barrels per day. However, the specific details have not yet been announced. After the announcement, international oil prices rose sharply by 5%, WTI oil prices reached $46.75 a barrel. Analysts said that if the agreement is not reached, the international oil prices will fall below $40 a barrel. Goldman Sachs estimates that the agreement will make oil production and its previous expectations of 480 thousand to 980 thousand barrels. Analysts said: "by the first half of 2017 the agreement will be strictly enforced, oil production quotas will raise oil prices 7 to $10." They also said: "in the current weak demand for oil, oil production is expected to comply with the provisions of the output quota is not good." Goldman Sachs also said that the biggest risk comes from those who did not sign the agreement of the peripheral oil producing countries. Goldman Sachs pointed out that Libya and Iraq daily oil production has exceeded Goldman Sachs expected 180 thousand barrels. If other countries a substantial increase in oil production, international oil prices will not rise sharply. (Yilia) more exciting content to welcome the search WeChat public concern number: Tencent Finance (financeapp).相关的主题文章: