Goldman Sachs: Trump's proposed US oil reserve sale not an issue for OPEC - RTRS

Goldman Sachs published a note late-Tuesday, stating that Trump's proposal to sell 50% of the US Strategic Petroleum Reserves (SPR) will likely have little impact on OPEC's efforts to reduce a global oil glut, Reuters reports. Goldman Sachs comments offered relief to the oil markets.

Key Quotes:

"This is negligible relative to both the size of the OPEC cuts of 1.7 million bpd and the global oil market of 98 million bpd."