Goldman Sachs analysts have lowered their oil price forecasts for 2025 and 2026, citing slowing demand growth and expected increases in production by OPEC+ countries.
According to a new review by the investment bank, the average price of Brent crude oil in 2025 is expected to be $63 per barrel (previously $69), and in 2026 - $58 (previously $62). The forecast for American WTI has also been reduced: to $59 in 2025 (from $66) and to $55 in 2026 (from $59).
Goldman Sachs experts also reduced their estimate of global oil demand growth: now an increase of only 300 thousand barrels per day is expected by the end of 2025 - instead of the previous 600 thousand barrels. The reason was the prediction of a tougher trade policy by the administration of US President Donald Trump, in particular - the possible return of high tariffs.
Analysts note that prices could exceed current expectations in the event of a sharp change in tariff policy, which would send a positive signal to markets, consumers and businesses.
OPEC has lowered its forecast for global oil demand in 2025, expecting an increase of 1.3 million barrels per day, which is 150 thousand barrels less than previously forecast.
Forecasts for the next quarters of 2025: Q2 – 104.25 million barrels, Q3 – 105.35 million barrels, Q4 – 106.41 million barrels.
Source: Reuters.
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