Goldman Sachs on its oil outlook:
- Says OPEC likely to extend cuts in June on higher inventories
- no longer expect OPEC+ to announce a partial unwind of voluntary production cuts in June
- GS says its model now estimates only a 37% chance of a production increase decision in June
- GS still expect Brent to remain in a $75-90 range in most scenarios
- and still forecast Brent to average $82/bbl in 2025
