Goldman Sachs expects oil prices to decline through 2026

Oil at $60 Priced In No Demand Growth This Year, Gunvor Says

Oil’s slump below $60 a barrel during the worst of last week’s rout had priced in zero demand growth this year, and was probably an overreaction, according to the head of research at trader Gunvor Group.

Goldman Sachs warns oil faces ‘large surpluses’ through 2026

The global oil market faces “large surpluses” this year and next as the trade war weighs on crude demand growth and OPEC+ eases supply curbs, according to Goldman Sachs Group Inc.

Oil prices to fall through 2026 on supply glut – Goldman Sachs

Goldman Sachs expects oil prices to decline through 2026

(Reuters) – Goldman Sachs expects oil prices to decline through the end of this year and next year because of the rising risk of a recession and higher supply from the OPEC+ group. The bank expects Brent and WTI oil prices to edge down, averaging $63 and $59 a barrel, respectively, for the remainder of 2025, and $58 and $55 in 2026. Given the weak growth outlook amid a global trade war, the bank expects that oil demand will rise by only 300,000 …

Saudi Arabia’s Next Move Could Hit Oil Prices Hard

Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May--equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs on trading partners, deepening the shock to oil markets.  Brent crude for June delivery was up 0.1% to trade at $63.32 per …

The recovery of oil in the last days could be ephemeral if the most up-to-date forecasts of the analysis firms are fulfilled. Goldman, JPMorgan and BNP issue a new wave of discounts on Brent's barrel this week, and coincide when it comes to deepening their falls. Read