GOLDMAN SACHS: There's no reason for oil markets to be nervous

Thomson Reuters OPEC voted last week to extend production cutsuntil the end of 2018 Goldman Sachs said in a note that "long-dated implied volatility remains too rich.” The extension of the OPEC/non-OPEC production cut pact through to the end of 2018, and especially the fact that the cartel and allies included an option to review progress in June, reduces the risk of both sudden supply surges and excessive drawdowns, Goldman Sachs says, noting that investor anxiety is higher than it should be. ...