The agreement which OPEC+ reached on Sunday is modestly bullish for Goldman Sachs’s forecast that Brent will hit $80 per barrel this summer, the investment bank said in a note after the group agreed to start adding 400,000 bpd production each month from August. For months, Goldman Sachs has been calling for $80 a barrel oil this summer, expecting strong demand recovery, despite expectations that Iranian oil could return legitimately to the market at some point, and despite the two-week-long stalemate within OPEC+ about how the group would proceed with oil supply management. Last week, Goldman Sachs reiterated its $80 price forecast for Brent crude despite reports that Saudi Arabia and the United Arab Emirates (UAE) had reached a deal on oil production that would extend the OPEC+ deal until the end of next year. On Sunday, OPEC+ agreed to extend the deal from April 2020 through the end […]