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2025-09-15 19:54:05
[Goldman Sachs: Oil prices may fall further next year due to strong supply growth] Goldman Sachs said that due to strong supply growth, oil prices may fall further next year, but there are several factors that may lay the foundation for an earlier rebound in oil prices. Typically, oil prices will bottom out before inventories peak; once forward-looking traders see signs of a rebalancing of supply and demand dynamics, they will begin to raise quotes. At the same time, as the number of active drilling rigs in the United States has decreased by 35% compared to the end of 2022, long-term weakness in oil prices may suppress shale oil production, thereby tightening supply more quickly. Analysts at the bank pointed out that in addition, if a large-scale oversupply occurs in the fourth quarter of this year, OPEC may reverse its current policy and implement production cuts to stabilize the market. Currently, Goldman Sachs predicts that by the end of 2026, Brent crude oil prices will be in the low $50 per barrel range.
