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2026-11-02 11:14:26
[Goldman Sachs Raises Oil Price Forecast: Brent to $105 in December, Supply Risks Rise] (1) Goldman Sachs has raised its oil price forecasts for the end of this year and 2027, citing rising risks to crude oil supply. As the Middle East conflict continues for months, Goldman Sachs has joined other banks in raising its oil price forecasts. (2) Analysts led by Daan Struyven and Yulia Zhestkova Grigsby noted in a report that Brent crude is expected to reach $105 per barrel in December, up from the previous forecast of $90. The average price for the whole of next year is expected to be $88 per barrel, 10% higher than the previous forecast. Analysts also raised their WTI crude oil price forecasts. (3) The analysts wrote that there are significant downside risks on the supply side, which could keep short-term risk premiums high. They added in their November 1 report that the market is “increasingly pricing in the risk of escalation following the US midterm elections on November 3 and the subsequent potential weakening of Middle Eastern crude oil supplies.”
