Goldman Sachs Doubles Down on Bearish Oil Outlook Despite Rising Demand

Goldman Sachs Doubles Down on Bearish Oil Outlook Despite Rising Demand

Goldman Sachs analysts issued yet another update to their oil price forecast, reiterating expectations of weaker prices this year and next, on the back of substantial growth in non-OPEC supply—excluding U.S. shale. In a note, the analysts said “oil production growth from non-OPEC ex Russia ex shale top projects will likely accelerate to 1MB/d over the next two years”, adding that natural gas liquids production was also set for a rise over the pe…

Where Are Oil Prices Headed in 2025 and Beyond? Goldman Sachs’ Bearish Outlook Meets Rising Demand Well economics matters

Source: The Crude Truth Substack Oil well economics matters at all times, but it has now become the difference between profitability and incurring a loss. Goldman Sachs has doubled down on its bearish oil price forecast through 2026, projecting Brent crude at $56 per barrel and West Texas Intermediate (WTI) at $52 by next year, even as global oil demand shows signs of resilience. This seemingly paradoxical stance—expecting lower prices despite r…