Goldman Sachs lowers oil price forecasts on supply surplus outlook

April 14, 2025
-FXnews

Goldman Sachs has revised down its oil price forecasts, citing expectations of persistent supply surpluses and subdued demand growth.

The bank now sees Brent crude averaging $63 per barrel and WTI at $59 for the remainder of 2025.
For 2026, forecasts fall further to $58 for Brent and $55 for WTI.

The downward revision reflects Goldman’s outlook for large market surpluses, with the oil market expected to be oversupplied by 0.8 million barrels per day (mb/d) in 2025 and 1.4 mb/d in 2026

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