Oil prices gained 1.8% as Russian supply concerns outweighed a modest OPEC+ output hike. Goldman Sachs forecasts a slight oil surplus in 2026. OPEC+ will gradually reverse production cuts, increasing output by 137,000 bpd from October. Saudi Arabia is leveraging its spare capacity to gain market share. Technical analysis shows WTI eyeing recovery, but fundamentals may limit sustained gains. Client sentiment is net-long.
08-09-2025 11:33 GMT
by Zain Vawda
