Oil markets received a dose of unexpected caution on Wednesday after investment bank Goldman Sachs revised its forecast for the upcoming meeting of the Organization of the Petroleum Exporting Countries and allies (OPEC+). Previously, Goldman Sachs anticipated a partial rollback of the group's current production cuts. However, in a statement released on May 8th, the bank cited a recent uptick in global oil inventories, prompting them to adjust their model. Their revised outlook now predicts only a 37% chance of OPEC+ announcing an increase in production when they convene in June.