NEW YORK (Bloomberg) -- Goldman Sachs Group said OPEC’s deal to cut output could add as much as $10/bbl to oil prices, though it remains skeptical along with other banks on how the accord will be implemented.

The plan to reduce production to a range of 32.5 MMbpd to 33 MMbpd “will likely provide support to prices, at least in the short term,” Goldman said in a report dated Sept. 28, but maintained its crude forecasts for 2016 and next year.

Uncertainty in the market will persist in coming months, and output quotas could still be exceeded even if the proposal is ratified at a formal gathering in November, according to Goldman.

http://www.worldoil.com/news/2016/9/29/goldman-sees-opec-buying-time-as-deal-could-boost-oil-7-10

Goldman speaks.  

 

The market reacts.

 

Goldman quietly takes the counter position and makes $$$ billions.

 

Score!  Big bonuses all around.