Saudi-UAE deal to be a bullish catalyst for oil, says Goldman

Bengaluru: Goldman Sachs expects an oil supply agreement between Saudi Arabia and the United Arab Emirates to be a bullish catalyst for prices over coming months as the U.S. investment bank maintained its summer Brent price forecast at $80 per barrel.

Saudi Arabia and the UAE have reached a compromise over OPEC+ policy, an OPEC+ source told Reuters on Wednesday, in a move that should unlock a deal to supply more crude to a tight oil market.