Goldman Sachs Raises Brent Oil Price Forecast to $105 by December 2026

NEW YORK: Goldman Sachs has revised its forecast for Brent crude oil prices, predicting an average of $105 per barrel by December 2026, a significant increase from its previous estimate of $90. This adjustment reflects growing concerns over global oil supply risks.

The investment bank’s updated outlook indicates a nearly 17% rise in prices, with Goldman Sachs also raising its average Brent price forecast for 2027 to $88 per barrel from $80. Other financial institutions, including ANZ and UBS, have echoed similar sentiments, with ANZ projecting Brent to reach $105 and UBS estimating prices around $110 by the end of 2026.

This upward trend in oil price forecasts comes despite reports indicating that oil flows from the Persian Gulf have returned to pre-war levels, suggesting that supply disruptions may not be as severe as previously thought. Analysts are closely monitoring these developments, as higher oil prices could have significant implications for global inflation and economic recovery.

Looking ahead, market participants will be keen to observe how geopolitical tensions and production decisions by OPEC+ nations influence oil prices in the coming months. The next OPEC+ meeting is anticipated to provide further insights into production strategies that could affect global oil supply.