Goldman Sachs sees 'modest upside risk' to oil prices over the next 3 months

Goldman Sachs with forecasts for the oil price, via Reuters:

• Says expects US crude oil inventories to peak in April with an average monthly draw of 380kb/d between May and August
• Says US production growth will remain too high in 2H15 and 2016 at the current rig count and as a result of the constraint of the export ban
• Says US producers have responded more aggressively than expected in slashing capex and activity
• Sees modest upside to $40/bbl forecast over the next three months; sees downside risk to 2016 (WTI) forecast of $65/bbl

Headlines via Reuters