Goldman Sachs: It is expected that with increased supply, oil prices will decrease by 2026.

Goldman Sachs pointed out in a report released on Sunday that although geopolitical risks related to Russia, Venezuela, and Iran will continue to trigger market volatility, the impact of a wave of supply growth causing market oversupply may result in a gradual decline in oil prices this year. The investment bank maintains its average price forecast for Brent crude / West Texas Intermediate crude for 2026 at $56 / $52 per barrel, and expects Brent crude / WTI crude prices to bottom out at $54 / $50 per barrel in the fourth quarter as OECD oil inventories increase. Goldman Sachs stated: "Global oil inventories continue to climb, and we predict a supply surplus of 2.3 million barrels per day in the oil market in 2026. This means that unless there is a large-scale supply disruption or OPEC implements production cuts, achieving market rebalancing may require a downward trend in oil prices through 2026 to slow the growth of non-OPEC oil-producing countries and support strong demand growth."