Goldman Sachs Raises Brent Crude Oil Price Forecast To $90 For December
Goldman Sachs has increased its December 2026 Brent crude oil price forecast by approximately 6% to $90 per barrel from $85, citing persistent supply risks arising from the West Asia conflict. The revised estimate remains nearly 13% below current prices of approximately $103 per barrel. As per a report by Business Standard, Goldman Sachs analysts in a report said disruptions to regional oil…
Goldman Sachs has raised its forecast for December 2026 Brent crude oil prices to $90 per barrel, up 6% from the previous estimate of $85. The increase is attributed to ongoing supply concerns stemming from the conflict in West Asia, with analysts noting that disruptions and geopolitical uncertainty could hinder the expected decline in oil prices.
Despite the higher forecast, the bank maintains that Brent is still significantly lower than the current market price of around $103 per barrel. Goldman's analysts project that Brent could average $125 per barrel in 2027 if Gulf oil supplies remain below February 2026 levels due to infrastructure damage, shipping attacks, and prolonged supply disruptions.
Conversely, a faster recovery in regional output could push Brent down to around $60 per barrel. S&P Global Energy also expects Brent to average $90 or higher in the last quarter of 2026 and $86 in 2027, with global demand forecast at 80.2 million barrels per day for the fourth quarter of 2026, down 4.7 million barrels from the previous year.
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