Oil prices to rise on OPEC's 'shock and awe' output cuts: Goldman Sachs | ZAWYA MENA Edition:
Larger-than-expected production cuts by some major oil suppliers and falling seasonal crude inventories due to growing demand are set to push up oil prices, Goldman Sachs said.
The U.S. bank expects benchmark Brent crude prices to touch $67.50 per barrel in the second quarter of 2019, up from $63.07 per barrel at 0638 GMT on Wednesday.
The Organization of the Petroleum Exporting Countries (OPEC) this week said it had cut oil production steeply under a global supply deal, curbing output by almost 800,000 barrels per day in January to 30.81 million bpd.
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