(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
Oil Price Goldman Sachs expects a $75 per barrel floor under Brent Crude prices that is unlikely to be breached due to the current macroeconomic fears of a U.S. recession. Oil prices slumped by 6% in the past few days, dragged down by weaker-than-expected jobs data in the U.S. on Friday, which sparked a massive selloff in equity markets globally and in
Oil Price Brent crude prices are set to rise to $86 per barrel this summer amid strong consumer demand which will put the market into a sizeable deficit in the third quarter, according to Goldman Sachs. Oil prices started this week higher, with a slight gain in Asian trade on expectations of higher fuel demand during the summer driving season. As
World Oil (Bloomberg) – Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, in a boon to the government that’s seeking funds to help pay for a massive economic transformation plan. The government had demand for all shares on offer in a few hours after books opened, according to terms of the deal seen
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