Lates News

Three members of the commodity research team at Goldman Sachs lowered their oil price forecasts in a report, assuming an increase in OPEC+ supply. OPEC+ decided on Saturday to increase output by 411,000 barrels per day in June, in line with Goldman's expectations. Goldman currently expects OPEC+ production to increase by 410,000 barrels per day in July, compared to the previous forecast of 140,000 barrels per day. Goldman predicts that the average price of Brent crude oil will be $60 per barrel for the remainder of 2025 and $56 per barrel in 2026, compared to previous expectations of $63 per barrel and $58 per barrel, respectively. Goldman forecasts that the average price of WTI crude oil will be $56 per barrel for the remainder of 2025 and $52 per barrel in 2026, compared to previous forecasts of $59 per barrel and $55 per barrel, respectively.