Goldman Sachs cuts 2027 Brent forecast on strong supply growth, weak demand.
Goldman Sachs cut its forecast for Brent crude next year, citing robust supply growth and persistently weak demand, while warning that prices could remain highly volatile under different geopolitical scenarios. 
The US investment bank now expects Brent crude to reach $80 a barrel in 2027, although it continues to forecast an average Brent price of $90 a barrel in the fourth quarter of 2026.
It also highlighted upside price risks, saying that under a downside geopolitical scenario, Brent could average slightly above $110 a barrel by late 2026 if disruptions to shipping through the Strait of Hormuz persist for longer than expected.
Under a more severe scenario, prices could climb to as high as $140 a barrel in 2027 if disruptions in Hormuz continue throughout the year.
Goldman also pointed to rising oil output from the US, Brazil, Guyana, Venezuela and the UAE, alongside structural shifts in demand, particularly in China.
Goldman Sachs cuts 2027 Brent forecast on strong supply growth, weak demand.
Goldman Sachs cut its forecast for Brent crude next year, citing robust supply growth and persistently weak demand, while warning that prices could remain highly volatile under different geopolitical scenarios.
The US investment bank now expects Brent crude to reach $80 a barrel in 2027, although it continues to forecast an average Brent price of $90 a barrel in the fourth quarter of 2026.
It also highlighted upside price risks, saying that under a downside geopolitical scenario, Brent could average slightly above $110 a barrel by late 2026 if disruptions to shipping through the Strait of Hormuz persist for longer than expected.
Under a more severe scenario, prices could climb to as high as $140 a barrel in 2027 if disruptions in Hormuz continue throughout the year.
Goldman also pointed to rising oil output from the US, Brazil, Guyana, Venezuela and the UAE, alongside structural shifts in demand, particularly in China.
