Goldman Sachs said that though the Organization of the Petroleum Exporting Countries (Opec) decided in Vienna to maintain its production target of 30 million barrels per day, the group's output would continue to exceed this quota.
Oil prices edged up on Monday on supply concerns in the Middle East following fighting in Iraq and Yemen, but signs of strengthening US production capped gains.
Front-month Brent futures were up 9 cents at $66.90 a barrel by 0311
Oil prices will reverse their recent gains as global crude inventories begin to increase again, with US crude likely to drop as far as $40 a barrel in the near-term, Goldman Sachs said.
Oil prices rose by almost a third between Ja
Goldman Sachs Group has sold its controversial metals warehousing business to Swiss private equity group Reuben Brothers, the Wall Street bank said.
The deal for Metro International Trade Services comes months after Goldman formal
Brent crude futures extended declines to below $86 a barrel on Monday after Goldman Sachs cut its price forecasts for the contract and for US oil by $15 in the first quarter of next year.
The US investment bank said in a research
Middle Eastern banks bought the vast majority of a debut $500 million sukuk issue by Goldman Sachs, a positive sign for other conventional banks hoping to tap the region's liquidity by issuing Islamic debt, according to data from lead manage
Goldman Sachs is reviving plans to raise at least $500 million with its first issue of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.
The US bank will mee
Topaz Energy and Marine, a subsidiary of Oman's Renaissance Services, has hired Goldman Sachs, HSBC and Standard Chartered to arrange a five-year $350 million bond offering, sources close to the deal said on Monday.
With its plan to issue up to 1 billion Malaysian ringgit ($305 million) of Islamic bonds, Societe Generale appears to be avoiding missteps made by Goldman Sachs in an ill-fated attempt to sell sukuk two years ago