West Texas Intermediate crude held gains above $80 a barrel as Goldman Sachs Group Inc. said the market isn’t oversupplied. Brent was steady in London . Futures fluctuated in New York after rebounding 1.1 percent yesterday. Prices are headed for a third weekly loss, having slid into a bear market amid speculation that Saudi Arabia and other members of the Organization of Petroleum Exporting Countries will hold off from supply cuts. The decline is “too much, too early” because a glut is yet to materialize, according to Goldman Sachs. Oil is paring its collapse as banks including BNP Paribas SA and Bank of America Corp. predict the rout may be over. They’re counting on OPEC reducing output as the U.S. pumps the most oil in almost 30 years and world demand growth slows. Saudi Arabia and Kuwait indicated the price fall doesn’t warrant immediate production cuts, bolstering concern the […]