On Thursday in a note, Goldman Sachs said that the rebalancing in the oil market is increasing speed.

He said: “While OPEC’s production path remains uncertain, recent fundamental oil data have come in even better than we have expected. If sustained, these trends would help achieve the normalization in inventories by early next year.”

Over the past month, the price of oil has returned to normal. And the reason behind this is the huge record draws, falling U.S. attire count and the strong demand data. The investment bank noted that the prices are going above Goldman’s September 2017 forecast of $50 a barrel Brent.

According to the data of Goldman’s, there are overall inventory falloffs of 83 million barrels since March. This is the data of the U.S., Europe, and Singapore.

The analyst Damien Courvalin is the Goldman analyst wrote in a note that the month which past the strong demand in specific has sent outclass spot prices two-year forward West Texas intermediate prices by $2.40 barrel.

The countries who are driving consumption are the U.S., Europe, India, and China. And the expectation of the Goldman is that this growing demand will through the third quarter of the year still stay in place.

It is added by the hose that this rebalancing of oil will cause rigidity in the market of oil and this will turn prices into a backwardation outline this year. And this means that shipments in the near future delivery would be of high price than those for later delivery.

Well, this is also said by the investment bank that it remains “cautiously optimistic” on the current level prices as progress in supply-demand details need to be persistent for the market to rally further.

It also said too big price retrieval now would only surge obstacle risk to its year-end $55 a barrel prediction as shale assembly can rise up quickly in reply as price increases.

In Asia trade, the oil futures on Friday were flat, with U.S. basic moving around $49 a barrel while Brent crude was trading around #51.45 a barrel.