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Goldman Sachs Predicts Brent Crude Could Fall To 80 Dollars Next Year
- •According to Goldman Sachs research, the price of Brent crude oil could average 80 dollars per barrel in 2027.
- •The Brent crude forecast for December 2026 has been raised from 85 to 90 dollars per barrel.
- •Improved oil supply from the Middle East and weak demand have significantly narrowed global oil deficits.
- •Escalation of conflicts involving the US, Israel, and Iran could disrupt supplies and keep prices high.
Key Questions Answered
According to Goldman Sachs, the average price of Brent crude oil is projected to be $80 per barrel in 2027. This expected decline is driven by improved oil supplies from the Middle East and an oversupply of oil relative to market demand.
Goldman Sachs raised its December 2026 Brent crude forecast from $85 to $90 per barrel. This adjustment accounts for potential oil supply disruptions caused by escalating conflicts between the US, Israel, and Iran, along with strong demand for restocking depleted global inventories.
Downward pressure on oil prices is driven by increased oil exports and production from the Middle East, alongside weakened global oil demand. Goldman Sachs notes that global oil supplies are expected to exceed demand by the fourth quarter of 2026.
