Both contracts have risen sharply this week after Hurricane Sally cut US production and OPEC and its allies laid out steps to address market weakness.
"We estimate that the oil market remains in deficit with speculative positioning now at too low levels," Goldman Sachs analysts said. Meanwhile, a tropical depression formed in the western part of the Gulf of Mexico and could become a hurricane in the next few days, potentially threatening more U.S. oil facilities.
Prince Abdulaziz bin Salman, OPEC's most influential minister, made the comments after a virtual meeting of a key panel of OPEC and allies, led by Russia.
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