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Goldman Sachs Predicts Major Shift in Crude Oil Prices!
- •According to Goldman Sachs, the average price of Brent crude oil could remain at $80 per barrel in 2027.
- •The oil shortage in the market has rapidly decreased due to improved supplies from the Middle East and sluggish demand.
- •The Brent crude price forecast for December 2026 has been raised from $85 to $90 per barrel.
- •An escalation in the conflict between the US, Israel, and Iran could once again impact oil supplies and keep prices elevated.
- •Weaker oil demand was particularly observed in China, the Middle East, and developed economies in Asia.
Key Questions Answered
According to Goldman Sachs, the average price of Brent crude oil could remain at $80 per barrel in 2027. This projection is driven by expected improvements in oil supplies from the Middle East and a higher availability of oil relative to demand.
Goldman Sachs raised its Brent crude price forecast for December 2026 from $85 to $90 per barrel. The upward revision reflects ongoing risks of supply disruption and robust demand needed to rebuild near-record low global oil inventories.
During the third quarter of 2026, the greatest weakness in global oil demand was observed in China, the Middle East, and developed economies in Asia. Factors such as the rapid adoption of electric vehicles and changing fuel consumption patterns in China also contributed to this shift.
