Goldman Sachs foresees oil price volatility
Goldman Sachs has lowered its forecast for the average price of Brent crude oil in 2027 to $80 per barrel, warning that prices could range between $60 and $140 depending on geopolitical developments. This reflects expectations of increased production from countries such as the United States, Brazil, and the UAE, at a time when demand is weak, particularly in China, due to a shift towards alternatives like electric vehicles. The bank also noted that disruptions in supply from the Strait of Hormuz could lead to sharp price increases if they persist, or fall to the lowest levels if supplies return to normal as demand declines.
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