Goldman Sachs said a planned oil output cut by producer cartel OPEC and other exporters like Russia has become a “greater possibility”, but warned that any reduction likely won’t be deep enough to re-balance markets in 2017. “Higher production from Libya, Nigeria and Iraq are reducing the odds of such a deal rebalancing the oil market in 2017,” Goldman analysts said in a note to clients dated Oct. 10. Any failure to reach such a deal, however, would push prices sharply lower to $43 per barrel as the global oil market will still have surplus crude in the fourth quarter. OPEC’s top producer Saudi Arabia said on Monday that a global deal to cut supplies could be reached at the group’s next formal meeting in November, when non-OPEC nations such […]