Goldman Sachs Lowers Oil Price Target for Second Time in a Week

BlockBeats News, June 16th, Goldman Sachs released its latest forecast: "Following Trump's announcement of reaching a temporary agreement and the upcoming agreement signing on Friday to lift the U.S. blockade and reopen the Strait of Hormuz, we have revised down our oil price forecast. Although the full details of the agreement are not yet clear, we currently assume that Persian Gulf exports will return to pre-war levels by the end of July (previously the end of August)."

"We have lowered our Brent crude oil forecast for Q4 2026 to $80 (previously $90) and lowered the average price forecast for 2027 to $75 (previously $80). The average price of WTI crude oil in Q4 2026 is expected to be $75/barrel and $70/barrel in 2027."