Oil rises on Goldman forecast, signs producers complying with cuts

By Scott DiSavino NEW YORK (Reuters) - Oil rose on Friday, edging closer to new 17-month highs, after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output. "We're up today because Goldman Sachs bumped up its oil estimates and the Russians said their oil companies would reduce output," said Phil Davis, managing partner of venture capital fund PSW Investments in Woodland Park, New Jersey. Russia said on Friday that all of the co