# Goldman’s oil bull charge undaunted by Saudi-Russia output plan

> Goldman Sachs says the Saudi-Russia plan to raise output by 1 million barrels a day signals tight supply and is not bearish. Brent slid 1.9% to $74.98 a barrel, and the bank expects inventories to keep falling.

- Date: 2018-05-28 · published 2018-05-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/65177-goldman-s-oil-bull-charge-undaunted-by-saudi-russia-output-plan
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Analysts view the planned output increase as only offsetting declining supply, which keeps crude prices supported. Persistent high crude costs sustain energy and freight expenses for feed producers.

## Read by commodity

- BRENT: neutral

## Sources

- gulfnews.com: https://gulfnews.com/business/markets/goldmans-oil-bull-charge-undaunted-by-saudi-russia-output-plan-1.2228005

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.