Oil prices may break above $60 a barrel if OPEC and Russia fully adhere to their promises to pump less, says Goldman Sachs Group Inc. West Texas Intermediate could rise by $6 above the bank’s current forecast of $55 a barrel and $56.50 for Brent in the first half of 2017, Goldman Sachs said in a Nov. 30 note. That’s if the organization complies as promised with a new production target of 32.7 million barrels a day, coupled with 350,000 barrels a day in cuts from non-OPEC members Russia and Oman. Banks from Goldman to UBS Group AG are turning more bullish on oil after the Organization of the Petroleum Exporting Countries’ first agreement to reduce output in eight years. The group’s deal to curb production by 1.2 million barrels a day was broader than expected, with Russia nodding to unprecedented cuts. Morgan Stanley predicts the market to rebalance […]