Goldman Sachs Does Not Expect OPEC to Alter Its Production Agreement

Goldman Sachs analysts expect OPEC to stick to its production output reduction agreement at its next meeting, revising an earlier stance that the cartel may partially unwind the cuts. "While our interpretation of OPEC+ communication is that no final decision has been made, we now expect Saudi crude supply to remain flat at 9 mb/d (million barrels per day) in July (vs. 9.2 previously)," Goldman said, as quoted by Reuters. The revision followed the publication of data showing that global oil inventories were higher than expected, suggesting…