1219 GMT - OPEC+ is expected to halt further increases in oil supply from August as a slowdown in economic activity and weakening oil demand become more evident, according to Goldman Sachs. Analysts at the U.S. bank assume the group will decide to raise production "one final time" by 411,000 barrels a day for July. However, "our economists expect the hard data will start to weaken around mid-to-late summer, and we expect year-over-year global oil demand growth to slow from 600,000 barrels a day in 1Q to flat in 2Q," the analysts say. Still, Goldman warns risks to the output outlook remain skewed to the upside, especially if compliance with production targets doesn't improve. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 08:19 ET (12:19 GMT)
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