Goldman Sachs: Brent to Average $80 in 2027 Amid M’East Oil Supply Recovery
Bank raises December forecast to $90 amid escalation risks Emmanuel Addeh in Abuja Brent crude oil prices are expected to moderate in 2027 as supplies from the Middle East recover from disruptions caused by the conflict involving the United States, Israel and Iran, Goldman Sachs has projected, although the risk of renewed escalation could keep prices elevated. The investment bank stated that it…
Goldman Sachs predicts Brent crude oil prices to average $80 per barrel in 2027, following a forecast raise to $90 in December 2026 from $85. The bank attributes this to the recovery of Middle Eastern oil supplies, particularly from the Persian Gulf, after disruptions caused by the conflict between the United States, Israel, and Iran.
Despite concerns over renewed escalation, potential attacks, and low global inventories, Goldman Sachs remains optimistic about the gradual adjustment of supply and increasing demand for oil as a hedge against market volatility.
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