Bloomberg News

OPEC Ceiling Adds ‘ Strong Upside Risk’ to Oil, Goldman Says

December 18, 2011

Dec. 18 (Bloomberg) -- The implementation of the Organization of Petroleum Exporting Countries 30 million barrel- a-day production ceiling would create “strong upside risks” to oil prices next year, analysts at Goldman Sachs Group Inc. said in a note.

“We continue to expect that oil demand will grow well in excess of production capacity growth,” the note to clients said.

To contact the reporter on this story: Lananh Nguyen in London at lnguyen35@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net


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