(Oil Price) – The tariff wars and high spare capacity, mostly from the OPEC+ producers, are skewing the oil price risk to the downside in the medium term, according to Goldman Sachs. “While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and
(Oil Price) – Goldman Sachs analysts predict Brent crude prices could temporarily surge to $93 per barrel if sanctions successfully curb oil exports from Iran and Russia by a combined 1 million barrels per day (bpd). In a note shared by Zerohedge on X, the bank outlined a scenario where Iran faces persistent supply disruptions while Russia experiences temporary setbacks, tightening
(Oil Price) – Spare oil production capacity at the highest quartile in history is weighing on Brent crude prices, and time spreads have looked undervalued since the summer, according to Goldman Sachs. The expectations for a large surplus next year are also likely weighing on the deferred time spreads, the investment bank said in a recent note. “Nevertheless, we believe neither currently
(BOE Report) – Goldman Sachs on Friday maintained its forecast for Brent oil to average $76 per barrel in 2025, citing a balanced market situation, with lower OPEC+ supply offsetting an unexpected surge last month in commercial inventories at Organisation for Economic Co-operation and Development countries. “We maintain our annual average Brent forecasts of $76/bbl in 2025 and $71 in
(Oil Price) – The ongoing OPEC+ oil production cuts and the improved compliance with quotas from some producers are supporting Brent Crude, offering a modest upside to oil prices in the near term, according to Goldman Sachs. The U.S. investment bank expects the OPEC+ cuts to be rolled over again and the easing of the output curbs could begin gradually in
(Oil Price) – Brent Crude oil prices are set to average $76 per barrel next year, down from an expected average of $80 a barrel in 2024, amid an expected surplus on the market, according to Goldman Sachs. “Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of
(CNBC) – Oil prices were heading for a weekly gain of more than 2%, with Friday’s prices were little changed on the day as traders were kept on edge by simmering tensions in the Middle East ahead of a planned resumption in Gaza ceasefire talks in the coming days. Brent crude futures rose 71 cents, or 0.95%, to $75.09 a barrel,
(BOE Report) – Geopolitical risk premium gauges in the oil market have decreased slightly this week, following sharp increases last week in both Brent implied volatility and call options implied volatility skew, Goldman Sachs said. Oil prices steadied in Asian trading as traders weighed developments in the Middle East conflict against continued bearish expectations for demand. Brent crude futures last traded
(Oil Price) – Goldman Sachs expects Brent crude oil prices to see some upside in the fourth quarter, potentially reaching $77 per barrel. The bank’s outlook is driven by several key factors, including a recent interest rate cut by the Federal Reserve and strong U.S. economic data. Additionally, Hurricane Helene’s formation reminds markets that hurricanes still have the power to disrupt
World Oil (Bloomberg) – OPEC+ is facing a dilemma when it comes to reconciling the group’s goals with what the market needs, and the oil group is sending a “confused message,” according to one of the world’s top crude traders. The group led by Saudi Arabia and Russia delayed easing supply curbs last week, but now needs to pick which
Oil Price Just two weeks after lowering its Brent oil price estimate to $80 per barrel for the fourth quarter, Morgan Stanley cut again its forecast, now expecting the international benchmark to average $75 a barrel in the last quarter of the year. Analysts at Morgan Stanley see rising headwinds on the demand side, which has been their key reason for cutting
Yahoo Finance If producer group OPEC+ doesn’t reduce production further, the average price of oil could drop to $60 per barrel in 2025 due to reduced demand and increased supply from non-OPEC countries, Citi said in a note on Wednesday. Citi said that while a technical rebound was possible, the market could lose confidence in OPEC+ defending the $70/bbl level
