Goldman Sachs sees a $75 floor and a $90 ceiling for Brent this year.
Oil prices rose Monday after posting a loss last week in the wake of the OPEC+ decision to increase production later this year.
Goldman Sachs analysts said Brent should rise to $86 in the third quarter as summer transportation and cooling demand pushes the market into a "sizeable" deficit of 1.3 million barrels per day.OPEC+ can delay, pause or reverse its decision to raise production if needed to stabilize the oil market, Goldman analyst Daan Struyven told clients in a Sunday note.
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