Goldman Sachs on oil: fundamentals more bullish, robust demand, supply disappointments

I posted comments from the investment bank on oil earlier in the week:

• Goldman Sachs on oil - price rally primarily driven by improving fundamentals

Analysts at the bank with more now, along the same lines:

• "Oil fundamentals are now more bullish as robust demand faces supply disappointments
• Only the U.S. has seen significant upside surprises in production owing to the high prices, but shale is facing growing pains"

(pipeline capacity constraining growth into 2019)

OPEC not likely to pre-empt the loss of oil exported from Iran

Will react and in doing so capacity will be further restrained .... an "increasingly tighter market"