Analyst responses to Saudi oil output cut: ANZ maintains its year-end $100 Brent forecast | Forexlive

The news ICYMI:

Goldman Sachs response, analysts there have a $95 forecast for December this year:

ANZ:

• says the potential for a sharp oil price rally has risen sharply
• analysts at the bank are maintaining their year-end target of $100 a barrel for Brent
• add that gains in price may be limited in the short term until there are signs of tightening in the physical market

RBC:

• say thatt Saudi Arabia has a track record of delivering on material cuts and that RBC therefore expect the full 1 million bpd unilateral cut to hit the market in July, “nearly doubling the true physical reduction we have seen from the producer group since October.”

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Oil price update: