Oil markets could witness modest surplus into early 2019: Goldman Sachs | Reuters:
Global oil markets could witness a modest surplus into early 2019 as new spare capacity comes online, despite strong demand and uncertainty on the size of supply losses from Iran due to U.S. sanctions set to start next month, Goldman Sachs said.
“While upside price risks will prevail for now, fundamental data outside of Iran has not turned bullish in our view,” the bank said in a note dated Thursday.
“We expect fundamentals to gradually become binding by early 2019 as new spare capacity comes online.”
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