The expected increase in oil production will not leave the market in a situation of oversupply, and in fact, barring no further action, the world could still be short of oil over the next year. There is no shortage of pitfalls for the bull run, with Trump’s expanding trade war, weaker demand and a potential currency crisis in emerging markets, and the drilling frenzy so far proceeding at an unabated pace in West Texas. Even with those considerations, however, “the oil market remains in de?cit with resilient demand growth and rising disruptions requiring higher core OPEC and Russia production to avoid a stock-out by year-end,” Goldman Sachs wrote in a note on Monday. The conclusion is notable because the investment bank assumes a rather aggressive increase in supply from OPEC+, on the order of 1 million barrels per day (mb/d) in the second half of 2018. Goldman says that […]