Saudi Arabia, Iraq and Iran will drive supply growth from OPEC, Goldman said. The group, which supplies about 40 percent of the world’s crude, has produced above its 30-million-barrel- a-day quota for the past 15 months.
Iranian Oil Minister Bijan Namdar Zanganeh has vowed to increase output by 1 million barrels a day once sanctions are removed as the nation seeks to regain market share.