Goldman Sees Downside Risks to 2025-2026 Brent Forecasts Amid OPEC+ Output Increase
Goldman Sachs' forecast for Brent oil prices has come under scrutiny due to the unexpected announcement from OPEC+, which is set to begin increasing oil production in April. The bank had initially predicted a four-month period of increases starting in July, but now sees downside risks due to softer demand and potential tariff escalation. As a result, Goldman Sachs estimates that Brent oil could drop to the low-to-mid $60s by end-2026.
- The impact of OPEC+'s production increase on global energy markets will be closely watched, with many analysts wondering whether the rise in supply can keep pace with increasing demand.
- How will the ongoing trade tensions and tariffs affect the strategic positioning of major oil-producing countries and their influence over global energy prices?