The oil team at Goldman Sachs has been bullish for awhile so this isn't a big surprise but after today's OPEC+ decision, they've raised their Q4 forecast by $10 to $110/barrel.
I think there was a 'sell the fact' trade built into today's OPEC announcement and we saw that hit shortly after the hike was confirmed. That crude has been able to turn that around and add $1.25 is a strong fundamental signal.
Separately, CIBC today said "We view this announcement as being partially priced in and a modest net positive for the medium-term oil price."
