Goldman Sachs sees oil prices steadying at current levels - Reuters:
Crude oil prices are likely to remain steady around current levels, as growing macro uncertainties, rising U.S. output and large availability of core OPEC nations’ spare capacity will offset supply constraints from Iran and Venezuela, Goldman Sachs said.
The United States spooked markets worldwide with oil supply worries last month after it reimposed trade sanctions on Iran, one of the major global oil suppliers, bringing focus back on the Organization of the Petroleum Exporting Countries (OPEC).
Crude markets posted their biggest monthly losses in six months in May amid stalling demand and as trade wars fanned fears of a global economic slowdown.
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