(Investing) – Goldman Sachs reduced its oil price forecast following decisions by the Organization of the Petroleum Exporting Countries and its allies, OPEC+, to accelerate oil output increases, the bank said in a note dated Sunday. The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate.
(BOE Report) – Goldman Sachs lowered its forecast for Brent crude’s average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply and the global trade war triggering a recession. The Wall Street brokerage also chopped its 2026 average price forecast for Brent by 9% to
(Oil Price) – Talk of a possible disruption to traffic in the world’s most vital oil cargo lane, the Strait of Hormuz, resurfaced as markets and traders are awaiting the next move in the Israel-Iran standoff. An Iranian blockade, or an attempt at such, of the narrow strait between Oman and Iran connecting the Persian Gulf with the Gulf of Oman
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