Goldman Sachs: OPEC+ Could Announce Larger Production Hike

OPEC+ may decide on Wednesday to announce a larger production increase for March than the usual 400,000 barrels per day, considering the oil price rally to $90 and the potential for renewed discontent from major oil importers at these high price levels, Goldman Sachs said in a Tuesday note. “We view growing potential for a faster ramp-up at this meeting, given the pace of the recent rally and the likely pressure from importing nations,” Goldman Sachs analysts including Damien Courvalin, Jeffrey Currie, and Callum Bruce, wrote in the…