Experts at Goldman Sachs have published their latest outlook for the oil market, identifying key factors influencing the sector and Prices.
According to Goldman Sachs, oil prices are expected to decline both by the end of this year and throughout the next. Analysts pointed to recession-related risks and increased supply from OPEC+ as major influences on the market.
By the end of 2025, benchmark oil prices — Brent and WTI — are expected to fluctuate around $63 and $59 per barrel, respectively. In 2026, prices may further decrease to $58 and $55 per barrel.
On Monday, April 21, benchmark oil prices sharply declined. The market is currently under pressure due to U.S. trade policies and concerns about global economic growth.
The bank predicts that oil demand will increase by only 300,000 barrels per day in 2025, factoring in the ongoing global trade war and weak growth projections. Additionally, since mid-March, the bank has lowered its forecast for global demand growth in Q4 2026 by 900,000 barrels per day due to the escalating trade conflict between the U.S. and China.
It is worth noting that previous forecasts in the U.S. projected global oil demand growth in 2025 to be the slowest in five years. Meanwhile, a new OPEC forecast pointed to a decline in oil demand by the end of 2025.
Source: Reuters.
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