Goldman Sachs says the weekend's OPEC+ agreement is supportive for oil prices

Goldman Sachs reiterating pretty much what they said last week when the Saudi/UAE spat appeared resolved:

• Goldman Sachs is bullish on oil following the reports of a Saudi/UAE deal

Goldman Sachs note now that the agreement has been reached.

• OPEC+ agrees to deal that will see 400k bpd added monthly

GS add they expect price volatility due to the impact of rising Delta variant risks.

The deal increases supply at a rate of 400k bbls/day over the months August to December inclusive (see the linked post for more)