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Goldman Sachs Keeps Brent Prediction at $80

Goldman Sachs Keeps Brent Prediction at $80

Goldman Sachs Bank expects the Brent crude oil price to average around $80 per barrel by the end of 2026, driven by declining production in the Middle East and the ongoing drawdown of global oil inventories. Despite this, the bank forecasts that prices will not fall below $60, even with a potential surplus in the market in 2027. The bank also indicates that tensions in the Strait of Hormuz and shrinking supplies could push Brent prices above $120 per barrel in the last quarter of 2026, with the possibility of a decline if oil supplies continue to increase and global demand weakens. Recently, oil prices surged by over 4%, reaching their highest levels in more than six weeks, amid escalating tensions between Iran and Yemen.

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