According to a report released on Sunday (11th), Goldman Sachs has raised its December Brent crude oil price forecast by $5 per barrel to $90 per barrel due to risks facing Middle East supply.
Analysts including Daan Struyven stated in the report: 'Ongoing adjustments in Middle East supply will eventually push down oil prices, but the situation could escalate again, still posing significant net upside risks.'
Goldman Sachs noted that Gulf of Persia oil exports have rebounded to the 2025 average level, and the global market was in a 'broadly balanced' state in September. High oil prices are driven by supply risks, low inventory levels, physical restocking demand, and financial hedging. The average Brent crude outlook for 2027 remains at $80 per barrel.
The estimated average price for December New York crude is $81 per barrel, and the average for the full year 2027 is $73 per barrel. (rc)
Analysts including Daan Struyven stated in the report: 'Ongoing adjustments in Middle East supply will eventually push down oil prices, but the situation could escalate again, still posing significant net upside risks.'
Goldman Sachs noted that Gulf of Persia oil exports have rebounded to the 2025 average level, and the global market was in a 'broadly balanced' state in September. High oil prices are driven by supply risks, low inventory levels, physical restocking demand, and financial hedging. The average Brent crude outlook for 2027 remains at $80 per barrel.
The estimated average price for December New York crude is $81 per barrel, and the average for the full year 2027 is $73 per barrel. (rc)
