Goldman Sachs and Citi cut oil forecasts
Both Goldman Sachs and Citi have lowered their forecasts for oil prices in 2026 and 2027 following the agreement to resume oil flows through the Strait of Hormuz. They expect Gulf exports to return to pre-war levels by the end of July. Brent is projected to reach $80 in the last quarter of 2026 and $75 in 2027, boosted by a demand rebound in the second half of the year. However, risks remain, indicating that production cuts could persist due to tensions and hostilities in the region.
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