Goldman Sachs is bullish on oil following the reports of a Saudi/UAE deal

Oil prices have dropped away since the reports that Saudi Arabia and the United Arab Emirates have reached a compromise over OPEC+ policy.

The deal should unlock an increased supply of crude into a tight oil market.

Justin was on top of the news as it broke yesterday:

• Saudi Arabia, UAE reportedly reach compromise over oil output deal

Goldman Sachs say that the expected OPEC+ deal would be a bullish catalyst. The firm has maintained its Brent forecast at $80 per barrel.