{
  "id": 17741220,
  "title": "Goldman Sachs raises oil price forecasts, sees Brent upside at US$140 a barrel",
  "url": "https://urgent.news/2026/11/02/goldman-sachs-raises-oil-price-forecasts-sees-brent-upside-at-us-140",
  "topic": "world",
  "section": "World",
  "published": "2026-11-02T04:12:47.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/11/1568884/goldman-sachs-raises-oil-price-forecasts-sees-brent-upside-us140"
  },
  "original_language": "en",
  "account": "New York-based Goldman Sachs has raised its oil price forecasts, anticipating a potential spike to US$140 a barrel by 2027 if Gulf oil output remains 3.5 million barrels per day below its 2025 average. The bank increased its December Brent crude oil price forecast from US$90 to US$105 a barrel, and raised its US West Texas Intermediate (WTI) forecast from US$81 to US$94 a barrel. Goldman Sachs also upped its average 2027 forecasts for Brent from US$80 to US$88 a barrel, and for WTI from US$73 to US$78 a barrel. A bullish price scenario could see Brent reaching US$140 and averaging around US$130 in 2027 if Gulf output stays below the 2025 average. The bank forecasts a higher risk premium, reflecting potential downside risks to Middle East supply, the persistence of major oil supply shocks, and the difficulty in achieving lasting diplomatic breakthroughs. Intensified shipping attacks, damage to oil infrastructure, and a more persistent risk premium are key triggers for a potential upside, the bank noted. Brent's price slipped more than one percent to US$111.84 on Monday after Iranian and Qatari officials held talks to resolve the US-Israeli conflict with Iran. However, Brent ended October at its highest level in six months due to concerns about the US-Iran conflict escalating again after the US midterm elections. The Mideast and Russia-Ukraine conflicts, coupled with broader geopolitical fragmentation, present high disruption risks, with the timing and location of disruptions being nearly impossible to predict, according to Goldman Sachs.",
  "summary": "NEW YORK: Goldman Sachs raised its oil price forecasts on Sunday due to elevated supply risks and said Brent could rise to US$140 a barrel in 2027 if Gulf oil output stays 3.5 million bpd below its 2025 average.",
  "key_points": [
    "Goldman Sachs raises oil price forecasts to US$140/barrel by 2027",
    "Gulf oil output below 2025 average could trigger spike",
    "Higher risk premium reflects supply disruption risks"
  ],
  "editors_take": "Heightened geopolitical instability and persistent supply risks in the Middle East are driving a shift toward much more aggressive price expectations for global crude oil markets.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Ajel English",
        "title": "Brent crude falls 3.15% to below $110 per barrel",
        "url": "https://urgent.news/2026/11/02/brent-crude-falls-3-15-to-below-110-per-barrel",
        "published": "2026-11-02T05:52:13.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}