Platform Eureka, an offshore oil and gas platform operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023.
Crude oil futures rose slightly on Monday as analysts see summer fuel demand pushing the market into a supply deficit in the coming weeks.
Goldman Sachs analysts said Brent should rise to $86 in the third quarter as summer transportation and cooling demand pushes the market into a "sizeable" deficit of 1.3 million barrels per day.
Here are today's energy prices:Oil prices posted a loss last week after OPEC+ agreed to increase production starting in October through September 2025.
OPEC+ can delay, pause or reverse its decision to raise production if needed to stabilize the oil market, Goldman analyst Daan Struyven told clients in a Sunday note.
Persons:
Goldman Sachs, Brent, Daan Struyven
Organizations:
Beta Operating, Goldman
Locations:
Eureka, Long Beach , California, OPEC