OPEC+ members are cutting output by a total of 5.86 million bpd, or about 5.7% of global demand
OPEC prolongs some cuts by one year
OPEC sounded an upbeat tone on the economic outlook as well as future oil demand
Goldman still expects Brent crude futures to remain in a range of $75 to $90 a barrel in most scenarios
The market share of OPEC crude has fallen to a multi-decade low of 27 per cent after Angola’s exit at the end of last year