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Goldman Sachs Sees No Major Market Reaction From OPEC8+ Production Hike

ReutersJul 2, 2025 2:55 AM

- GOLDMAN SACHS:

  • SAYS IT DOES NOT EXPECT A LARGE MARKET REACTION IF OPEC8+ DECIDES TO INCREASE PRODUCTION ON SUNDAY AS CONSENSUS HAS ALREADY SHIFTED TOWARDS THIS OUTCOME

  • ASSUMES THE AUGUST PRODUCT HIKE TO BE THE LAST ONE AS A LARGE INFLOW OF NON-OPEC EX SHALE PROJECTS SOFTENS THE BALANCE, BUT THE RISKS SKEW TO FURTHER OPEC+ QUOTA INCREASES AFTER AUGUST

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