- Published On Oct 12, 2026 at 01:08 PM IST
Goldman Sachs raised its December 2026 Brent crude price forecast to $90 a barrel from $85, citing persistent supply risks that are likely to keep near-term oil market premiums elevated.
“We maintain our base case that continued adaptation of Mideast supply will eventually reduce crude oil prices, while potential renewed escalation still poses significant net upside risk,” Goldman Sachs said in a note on Sunday.
Goldman Sachs maintained its 2027 average Brent forecast of $80 a barrel and expects WTI prices to average $81 a barrel in December and $73 a barrel in 2027
Brent could average around $125 a barrel in 2027 if average Gulf output that year remains 5 million barrels per day below February 2026 levels, compared with 0.3 million barrels per day below those levels in its base-case scenario – Goldman
Conversely, Brent could fall into the $60s in 2027 if average Gulf output rises 1 million barrels per day above February 2026 levels – Goldman
Oil prices slipped on Monday on expectations of more Russian supplies after US President Donald Trump said Ukraine and Russia had agreed to halt attacks on each other’s energy facilities following a US diesel-supply deal with Moscow
“For investors seeking to hedge upside risk to oil prices, we still recommend long summer 2027 European gasoline positions. We recommend that oil producers hedge oil price downside with put spreads, which also leave exposure to price upside”, Goldman.
- Published On Oct 12, 2026 at 01:08 PM IST
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